Emini Trading Update – Thursday 1 Mar 2012 (8:07)
We must have flushed out quite a lot of sellers yesterday, as we recovered quite nicely today. And now we have our lines in the sand – 1,375 on the upside and 1,366 on the downside.
After the ISM numbers came out the Professionals stepped in at 1,367 to 1,368 and held it. The Amateurs tested down to that level later in the day and got wrong-footed. We’re now holding at the highs at the close and sitting under 1,375 – in fact, in the after hours they’re trying to take it through 1,375.
Quote of the day …
Gutsy positioning Short by Jason S. just before the release of the ISM numbers …
“Thanks to the numbers that was the quickest 5 points I’ve ever made or ever will! Less than 1 minute. Having already got stopped out for 2.5 trying to get short I then waited for the divergence on 1500 after exhaustion then the RAMBO bar at 1373 was enough for me to short. DOM couldn’t keep up after that. I’m settling for + 2.5 today.”
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