Tuesday, January 16, 2007

Russell 1-16-07

Well we had a classic gap filling move in the first half hour of the market that got things off to a booming start today. This was an easy move to follow by watching the pre-market activity on the Dow.

First trade was at 6:52 Short at 803.20 for +1.5 points. My one regret with this trade was that I wasn't keeping an eye on the next support level as I could have easily increased my target up to 3.0 points. C'est la vie. Next trade was long at 7:31 at 801.30 worth -1.8 points as RSX bounced I followed this with a reversal trade that didn't quite follow through at 7:42 at 799.30 for +0.0 points.

Net after comms -0.4 points.

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Gav said...

Yeah, it was a chop fest in morning for NQ as well. I saw my profit vanished after stopped out with break even.

Lord Tedders said...

Yep. My system usually loves a choppy market (since it's mean reversion or break out) but the market seemed decidedly undecided this morning :)