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Friday 18 May 2007

May 18 update $844



I was getting ready to leave for work and I came to my computer and saw that ER2 had broken out and was at 823, and that YM had bearish divergence compared to ER2 (the reverse of what we've been seeing lately), so I got a quick long scalp on ER2, and a short scalp on YM.

P/L= $844

OK, now I'm officially done.

Market Observations-
Too bad I missed ER2's afternoon pop, no one was expecting it I bet, but with expiration today, the divergences aren't working between YM/ER2, and we saw a reverse of what we have been seeing between this pair for the last month.

Have a good weekend ya'll

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