Emini Trading Concepts Daily Results
Volume picked up nice today! We had payroll numbers last Friday and the market opened up strong and ran up to 1183 or so! Pretty nice little rally. To be honest I wasn’t expecting it. I am still a bit contrarian and think the market is poised to move back down.
WHY? Well. Let’s look at what caused the “meltdown” to begin with. Since the bottom we’ve just about doubled. I remember the SP Emini Contracts trading around 665 and now they are close to 1200. So not quite doubled but still a pretty nice rally up over the past 18 months or so. BUT that’s been on low volume. And, think about it. What has really changed that makes this economy any better than it was when it tanked?
I don’t really see any improvement. In fact, I think it’s worse. In any case, we all have our own opinions and nobody knows what the market will do next. So I just trade everyday like I always do by using a strict set of rules to live with!
On to today’s trading. I lost 3 ticks on my first trade: EET coming out of No Zone –one of my favorites! It hit my stop loss and then went ALL the way up past my target! Oh well. No sense letting losing trades bug you.. Right??
I then went long on the first NSE out of No Zone for a 8 tick winner and finished up by 9:45 am.
Nice to be back to better volume days. Let’s hope they last!
We’ll start posting more live videos in the next few days.
Cheers!
ETS
