This is from the blog I found this past weekend. I thought some of you would find it interesting and might help confirm a trade setup you are thinking about. I am enjoying seeing this guy's thinking on the market.
Does anyone have any thoughts on his short position he's taking?
DISCLAIMER: I am not recommending this trade. This is for informational purposes only.
Daily Trade for March 9
March 9th, 2007
Prior Trade Results:
Gain of $580 per contract
Ending Balance:
$59,100
Trade for Today:
Long 2 E-mini SP contracts
Comments:
IâM GONNA DO IT. This is my attempt to outsmart the model. It is LONG with minimal leverage, which is an indication of the weakness in signal. The LONG will gain some conviction by falling to the 1365-1375 area, which is 30 points lower. 30 points is a good move - $1500 per contract. The model will most likely sit through the downturn since it will most likely be a swift 1-2 day moveâ¦I want to try and catch that last move down. So, I went against the model and are holding 2 SHORT contracts - hoping for $3K gain.
Does anyone have any thoughts on his short position he's taking?
DISCLAIMER: I am not recommending this trade. This is for informational purposes only.
Daily Trade for March 9
March 9th, 2007
Prior Trade Results:
Gain of $580 per contract
Ending Balance:
$59,100
Trade for Today:
Long 2 E-mini SP contracts
Comments:
IâM GONNA DO IT. This is my attempt to outsmart the model. It is LONG with minimal leverage, which is an indication of the weakness in signal. The LONG will gain some conviction by falling to the 1365-1375 area, which is 30 points lower. 30 points is a good move - $1500 per contract. The model will most likely sit through the downturn since it will most likely be a swift 1-2 day moveâ¦I want to try and catch that last move down. So, I went against the model and are holding 2 SHORT contracts - hoping for $3K gain.
