Well we had a very volatile start to the month of March. The overnight market dropped about 14.0 points based on more activity in the Yen. Although the market upticked at the open, immediate downward pressure came in and initially pushed the market lower. Bulls came back to attempt to fill the gap and have done so, but have failed to push much higher.
First trade of the morning was a long reversal at 6:38 at 777.8 for -1.8. Second trade of the morning was a long reversal at 6:51 at 776.5 for +8.6 (I entered about 1 point late due to the speed of the market). Next trade was at 7:08 short at 785.2 for -1.8. Fourth trade was at 7:11 long reversal at 786.7 for -0.7. Last trade was at 7:24 short reversal at 785.7 for -1.8.
Net on the morning for +2.5
This was a very interesting morning and I feel that despite the late morning choppiness, I traded the system pretty well. I give myself a 8 out of 10 for the morning. The two things I could have done better 1) entered trade 2 faster (I wasn't paying close enough attention), 2) spotted the choppy market we had entered and skipped trade #4.
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Thursday, March 1, 2007
Posted by Lord Tedders at 9:02 AM