Short at 4352

This trade has a very wide stop, so be aware of the risk.

I am short at 4352 for a 30% fill, stop at 4430. I am short because we hit this retrace area and my stop is at the 78.6% line.

Short at 4346

For a 10% fill only. Stop at 4375.

I am taking this just out of curiosity and for entertainment purposes. Last night, after ES re-opened higher, the FTSE was quoted exactly at 4346, then it stalled, and after four minutes went back into the 4260 (on my broker at least). Probably a system error...but still I am just too curious not to try on on a small position :-P

Update: well got stopped out of this entertainment trade. Damn....no magic number from yesterday's freak episode. Now flat and out and watching, recommend the same.

Re-entered at 4239

10% fill only, stop at 4255.

Partial cover

I have covered my 4230 entry at 4207 for 23 points.

I am now left with a 20% fill from 4251 and have moved my stop to 4246.

Update: my leftover short got stopped out at 4246 for a modest 5 point profit. All flat now.

Added at 4251

For a further 20% fill.

Short at 4230

30% fill, stop at 4290.

Covered short at 4201

From 4225 for 24 points.

Now flat.

Let's give the short side a chance....

Short at 4225 for a scalp, 10% fill only, stop at 4240

Covered all shorts and flipped to long at 4125

I have covered the short I had from 4214 and concurrently went long at 4125.

10% fill ONLY, stop at 4095: it's a countertrend trade, but I want to give it a try. I am done for the week after this trade however it goes.

Covered half position at 4134

I covered my 4174 entry at 4134. We got the sell off even before open...

Left with the original 20% at 4214, and moved the stop at 4182.

Added short at 4174

For a further 20% fill, stop for whole position still at 4230.

Flipped at 4214

Took profit on the small long I had left from 4192 and concurrently went short at 4214 for a 20% fill, stop at 4230.

Short at 4309

For a 20% fill with OCO order to manage risk: limit order to cover at 4282, stop at 4330

Update: keeping the stop at 4330, but am managing covering manually if necessary, as I am at the desk for a few hours.

Update 2: I have just covered half of my trade at breakeven, am left with a 10% fill. Have to head out, putting a OCO back with the same details as above

Update 3: Just got back....and obviously I have been stopped out, but at least I was left only with a tiny exposure so no biggie.

Momentum is switching

We could be in for further upside. If my stop doesn't get hit straight away, I'll watch out if the opportunity to either minimise losses or flip sides arises.

Update: nope! stopped out of my short at 4305 for a 18 point loss.

Flipped sides at 4288

I took profit on my long from 4243 for 45 points and concurrently went short, 20% fill, stop at 4305.

I might flip sides again if strength develops: an area to watch as mentioned this morning is the 4250s.

Flipped sides at 4243

Took profit on my short from 4298 (for 55 points) and concurrently flipped sides and went long at 4243, 30% fill, stop at 4230.

I have changed my plan to the upside, but let's see if I am called to flip sides again.

Partial cover

I covered half of my long at 4265 from 4298 for 33 points. Moving stop on remainder at breakeven, however, I am ready to flip side if appropriate.

Shorted again at 4298

50% fill, stop at 4310 for a scalp.

Update: I took 3/5 off at 4287, taking back the earlier loss, left with a 20% fill, moved stop to 4300.

I have to jet out now, will leave the above trade on, worst case scenario I'll lose 2 points.

Well that was fast....

Stopped out my small short at 4310...perhaps the market is telling us what side we should be on?

Anyways, going to take a break at this point and look back in a couple of hours.

Play for Friday, June 26th

Notice how we have a potential cup and handle formation in the works, and in conjunction daily momentum is beginning to settle and perhaps point back north again.



However, we are right outside the boundary for the downward channel: one idea is to look for weakness at the open and then look for strength anywhere between the 4250s and 4270s. I am taking on a small short now at 4283, 10% fill, stop at 4310.


We need a strong move above the 4300-4330s to confirm the cup and handle and thus a continuation of the bullish trend.