Emini Trading Update – Thursday 7 Jul 2011 (10:40)
Big surf swell coming our way in Sydney – so heading South to meet it and so no trading Friday or video this weekend. Plus email will be patchy – sorry about that.
Anyway, the Professionals gapped us up 10 points pre-open and we’re now above cyclical resistance. And the “Risk On” markets did well today. Let’s see if the Bulls can keep us above the gap.
Quote of the day …
And Warren H. did it again today with another one-shot-one-kill …
“Hey Barry, Today was similar, 1 trade for 4 pts profit. I joined the buying after the pro bar on the 4500 tick. In 8:50CST @ 1345.75 out at 12:22 @ 1349.75. I took a little heat so I decided to take my dog for a walk during the pull back at 10:30 and it paid off nicely. We had an end of trend warning but I thought we might simply be absorbing supply and still had a good chance of retesting the globex high.
I usually move my stop to break even half way to my target and that would have caused me to be stopped out. I remembered your tip about leaving the stop alone and that made all the difference. Many, Many Thanks!”
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