Today the market gapped up and didn’t look back. We didn’t have any pullbacks to allow us any trade plan entries. It ran up to one of our major resistance levels and consolidated until going into a wedge pattern. Conservative traders took 1 trade for 6 ES ticks. Aggressive traders took 2 trades for 16 ES ticks.
Month: February 2011
Trading Results – Feb 24, 2011
Durable Goods were in line with estimates and Unemployment numbers were lower than expected which was good news. New Home Sales dropped more than expected. Libya violence weighed heavily on the market today and later in the day, Saudi Arabia announced increased oil production. This helped push the market back up into the close. Today we had 3 conservative trade setups for a possible +45 ES Ticks. We had 6 aggressive trade setups for another 11 ES Ticks for a possible total of +56 ES ticks. The aggressive trades included 3 stop out trades.
Trading Results – Feb 23, 2011
Existing Home Sales came out in line with estimates, but Middle East crises continues pressure on the US economy. The market saw nice action today and we had 6 trade signals with a possible total of 51 ES ticks.
Trading Results Feb 22, 2011
Overseas news was bearish while the Consumer Confidence was better than expected. The market quickly filled yesterday’s gap. 4 Conservative trades setup for a possible +3 ES Ticks, including 1 full stop out. 2 Aggressive trades setup for a possible +16 ES Ticks for a daily total of +19 ES Ticks..
Friday, Feb 18, 2011
Today was Options Expiration day which caused a lot of volatility for a total of 3 conservative trade setups for +19 ES ticks. We are going into a 3 day weekend. We will not be trading on Monday. The markets will close early Monday, 11:30 EST. Trading volume will be very light, so if you trade, make sure you are flat by early close. We will resume trading on Tuesday, Feb 22, 2011
Thursday, Feb 17, 2011
Today we had 2 conservative trade setups for a total of +13 ES ticks.
Wednesday Feb 16, 2011
Today we had 4 conservative trade setups for a total of -6 ES ticks. We had our first full stop out in 14 days, which based on statistics is a relief. Now we can get back to more profitable trade setups.
Trading Results
Another sleepy low volume day, market taking a breather after a Holiday run-up, no other explanation. We had 4 conservative trade setups today for a total of 20 ES ticks. Aggressive traders took two additional trades for 5 more ES ticks. It doesn’t sound like much, but in a slow consolidating market like we have had for the last two days, it was a very good trading day.
Trading Results
Happy Valentines Day! Well… for some. Today was a sleepy day with low volume with much consolidation throughout the day. We had one conservative trade for -2 ES ticks. We had three aggressive trades for +12 ES ticks. We exited early on one trade due to a time rule. However, other traders stayed in the trade that completed target 1 and target 2, which yielded 21 ES ticks for those that did not pull their stops. For more information about our live trading Shark Den, please visit TraderShark.com
Trading Results
Consumer Sentiment came in line with expectations. Mubarak announced his stepping down and the market liked the news. Today we had 3 conservative trades for 23 ES ticks.