S/R Emini Journal

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It's a snoozer for now.

But as most of you folks know the market tends to make a short-term move in one direction and then reverse after the (2:15pm ET) FOMC meeting ... but not always :) .

Betting on a pump and dump scenario.

Later,

JJ
 
I have read sooo many reports from every analyst out there (or should I say anal lyst)...As far as I am concerned this thing counld do anything this afternoon. I am going to put my money on a rate halt and market going up. And I am honest enough to admit that this is a guess. Some have said that the price has already been factored into the market but the enthusiasm can never fully be factored in so here is how I am going to play it.

I am going to put in an order to go long at 1285 and if I am right and price goes up it will sweep me in and I can do a market order to get out at the first sign of reversal. Now as we get closer to the announcement if price starts working its way up closer to my entry I am going to keep moving my entry up as well. You don't want to get in before the announcement because if you are wrong it can be painful. Especially if you are guessing. One other note, lets say it does sweep you in and you ride it for 5 points or so. The first sign of halt get out because if it reverses it can move the other way even faster. I played the reversal one time and did very well but if it is timed wrong can be very scary as well. So I don't plan on doing it this time.

If I am wrong about the direction that is ok also I just won't get in and I'll come to play tomorrow. I hope this makes sense to everybody.
 
Quote from JimmyJam:

But as most of you folks know the market tends to make a short-term move in one direction and then reverse after the (2:15pm ET) FOMC meeting ... but not always :) .
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I wouldn't promise, this may be selective memory working, but I think the strongest move after the announcement is typically in the original direction, after the aforementioned reversal, and occurs 20 to 30 minutes after the announcement. But as JJ says, not always.

JB
 
OK, as the price keeps moving down before the announcement my order is going down as well. I am trying to keep my long order about 3 points above the price. So at this time I am re-entering the order at 1284
 
Quote from 4re:

OK, as the price keeps moving down before the announcement my order is going down as well. I am trying to keep my long order about 3 points above the price. So at this time I am re-entering the order at 1284
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Good move.

I'm currently long, but don't think it'll drop muchmore (if any). I'll probably enter another set if (when) it starts moving back to the upside.

Later,

JJ
 
I am staying put until the price "digests" the announcement a bit, I doubt I'll scalp today, though will see to either re-enter the positional short or vice versa.

EDIT: Gut feeling - we're going DOWN :D
 
Quote from romik:

I am staying put until the price "digests" the announcement a bit, I doubt I'll scalp today, though will see to either re-enter the positional short or vice versa.

EDIT: Gut feeling - we're going DOWN :D
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I got out with 1.5 points. and that is it
 
Quote from romik:

I am staying put until the price "digests" the announcement a bit, I doubt I'll scalp today, though will see to either re-enter the positional short or vice versa.

EDIT: Gut feeling - we're going DOWN :D
More...

Yeah, bro.

Pump and Dump

if you made a go of it in the restaurant business you can definitely win at this game (I was reading that stupid "edge" thread last nite). Man, with all thos folk trying to rip-u-off and take what cha have (did you have a bar :eek: !), this should be child's play to ya.

Later,

JJ
 
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