Wednesday, September 03, 2008

A Late Decision - Covered E-minis

It's 6:40 pm New York time as I write this. I have been looking at the e-mini action today against the context of the broader market and in particular the advancing issues numbers. I am beginning to see some bullish clues there and the market's refusal to drop below 1265 today is a worry.

On the better-safe-than-sorry principle I have just covered my short e-mini position at 1276.50. I am now flat.

I shall take another look at things early tomorrow but I no longer am very sure that we shall see 1250 before a strong rally starts. 
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6 comments:

  1. Sam9/03/2008 07:49:00 PM

    Carl,

    Thanks for sharing your thoughts with us. No doubt it leads to abuse from the know-it-alls that leave comments from time to time, but as someone who trades the markets, I appreciate the insight I get from your blog.

    Thanks,

    Sam

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  2. Anonymous9/03/2008 07:57:00 PM

    Well done! Don't know if up, up and away is the next big move but my work following the NDX says a playable bounce is most likely to start very soon so I placed my bet at today's close.

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  3. Anonymous9/03/2008 08:15:00 PM

    carl, its a pleasure to watch and follow your trades.. very logical thoughts. thanks for your blog. libertyville,il

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  4. Anonymous9/03/2008 09:57:00 PM

    hi carl,

    which broker do you use for futures ?

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  5. Anonymous9/04/2008 02:14:00 AM

    Hi Carl,

    Once again thanks for your great website, and sharing your trades with us!

    -FK

    ReplyDelete
  6. Anonymous9/04/2008 03:12:00 AM

    Surely comments should add to the discussion of what the market is doing and why? (Sams adds no further info and is pretty rude)

    ReplyDelete