Thursday, 12 July 2007
July 12 Trade Summary $703
Well my trading results were similar to yesterdays performance in terms of profitability during the time I traded. I traded light today because I was skeptical of the extreme bullishness. For most the day I watched the NYSE A/D trade lower while YM kept pushing higher. I made about $600 during the first 2 hours and then struggled to make the next $100. I could have made $1k more if I had shorted ER2 instead of YM around 1am EST, after getting the intermarket relationship trade pattern between ZN and ES around 1am. I scaled into TLT too soon and took a loss on it, but watching it along with ZN helped me turn a losing trade on YM into a small winner.(Like I said , I should have shorted ER2 or ES, because they are more bearish right now over YM and NQ). ZN and CL really tanked pretty hard during the time that I traded. I guess I should have been trading CL and ZN and just rode the trend. Every extreme NYSE low tick was a buy signal on YM this morning up until about 1am(extremely bullish day-A/D was 4:1 or greater during periods of todays' trading). I guess I should have gone long off of the news I read yesterday about the record short interest in ES. I'm done for the day, I have other business to tend to. I may not be trading tomorrow because I have work early.
Labels:
crude oil,
Extremely Bullish Day,
intermarket relationship,
ZN
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