Up, up and… down we go :)

by Ryan Barr on March 18, 2009

in Investing,Trade Log

Thanks Big Ben - I enjoyed riding my /ES contracts up :)

Thanks Big Ben - I enjoyed riding my /ES contracts up :)

My Goodness

That was quite a run up!  Gentle Ben provided the United States with a future dose of inflation today by stating that the treasury will be buying the long bond.  The dollar collapsed, gold shot up like a rocket ship and billionaires where minted in the treasury market.

I was long /ES

Anyhow, the volume during this session was monsterous.  In fact, I had a market order that took about 2 minutes to fill.  A market order… Those things are supposed to be almost instant.

Well, I was jumping around like a fish today in the market.  I’m working on a new system at the office and it is a bunch of click and wait right now.  I was able to keep an eyeball on the price action and be a little active.  Anyhow, rather than try to put arrows all over the place, I simply put a red->green->red->green arrow on the chart.  The arrow represents when I was making, or losing money.  Overall, the day turned out sharply positive for me.

But really, who cares about my trades?  Lets talk about the future here.

I see a drop in the cards.  If we can pierce 805 or so on the /ES, my tune changes pretty quickly.  But right now, 767 is my next short term target.  We’ve been jumping in this channel, and actually stayed in it with the fed moves (highlighted on the chart).  If we can breach 767, then 730 or so is next.  Tomorrow will tell.

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