Sunday, November 28, 2010


Looks like most of the info is priced in... trying for a long in here south of 1.32.
*EDIT* this thing must be broken... took a tiny loss on a starter... ended up daytrading this for a modest gain.

Monday, November 22, 2010


I don't care what your predictions are ... this is what uncertainty looks like.

Friday, November 19, 2010

Adding ES long at 1088

Full position long - average price is in the upper 1170's.
Stop on half is 2 ticks below today's low....
*EDIT* took half out at 1205 last night.... +25 points.
*EDIT* stopped on the other half... +5.
No positions at the moment.

Thursday, November 18, 2010


....currently sitting in at resistance... taking some profits here (+8)to pay for the risk. Trade is now free.

Wednesday, November 17, 2010

SPY R:R profile

Gold chart.

This one is for Jason.
The support area from the QE2 announcement day was clearly at 1328. So, we use that as a place to buy. You go in with 30% of your total size and see if it holds. Yesterday, when we went into the spot, the price was only there for a quick second. That is the second indicator that tells us we had a good entry. Also, we've come off almost 100 points from the high which is still a good size move to consider before going in for a trade. ie what percentage of the contract does that encompass - 8% or so, so it's a decent retracement. Lastly, the 100min chart shows we are still wedging higher and making higher lows...
The 3 min chart shows that we are holding the spot and wedging higher. So, I'm long my next 30%. Once we start to head higher, you finish the entry with your last 40%. I bought 1329/8 and 1335 as the lows are gettting higher. I"ll buy again if we break out past 1344, come back and HOLD. Then your trend should be in... Out target needs to be around 3:1 of our entry price vs our risk. That puts is in around 30 points or somewhere in the 1360's. The stepping process of entering trades works on 1min charts for intraday scalps and on the 60 min charts for swing trades. I don't take position trades as I don't trade on fundamentals.
*EDIT* got hit last night on GOLD - 1364/5 - + 31 points.

Tuesday, November 16, 2010

Long ES the form of Also long the ES itself in at 1174.50. Probably see a bounce to 1191 and a possible flush through to 1163. After that, we should go north of 1250.

Gold and the CAD

Covering my gold short and CAD short in here - going long as well - 1329 and .9756 for a trade.

Monday, November 8, 2010

Short CAD

0.9986... sometime overnight
*EDIT* I haven't posted in a bit but I have been in and out of this currency several times this week. The game plan was always the same - sell upper 90's and buy lower 90's. At no time did I ever go long, but I think we may push through par the next go around. Gold and oil have both found support and may continue to push higher. I will sell CAD hard if Gold doesn't hold the 1355's. As a matter of fact, if the CAD cannot get back up to par and Gold continues higher, it could be an indicator that Gold (and silver) are done.
*EDIT* short CAD and Gold on the breakdown this morning through 1355.

Friday, November 5, 2010

Short 1223

*EDIT* took some profits at 1215/6 - paying for the stop.

*EDIT* took the rest off 1192 - +31

Wednesday, November 3, 2010

Gold & CAD

From the way gold is trading I have to think that we are closer to a top than a bottom. The Gap fill was completed and the market reacted by selling off quite significantly. Basically, you're 50 points risk to the upside and 100 plus to the downside... I like the R:R here on the short side. The other possibility is that this becomes one gigantic wedge break to the upside.... lol.
Same with the CAD. I will attempt a short in the next 24 to 48 hours up into resistance on both commodities.
*EDIT* short starters in Gold and CAD - 1357 and 0,9920 resp.
*EDIT* This is why you never go all in at one spot. Took a small loss on my GC contracts and my CAD futures positions. No bid deal. At least we now know what we're playing with. It's interesting that this is all taking place before the open... Could see a massive fade.