Monday, August 3, 2009
Trades for 08/03/2009
They kept stabbing at the magic number today (1,000). Cash for clunkers is a big success so that pushed things higher I guess, I don't really know I just watch the charts. Financial entertainment TEE VEE kills me.
Lets get into some trades. First trade was on the break above 990, got a good run to 995 and stopped on the runner. Second trade was perfect shorted on the break below 997 and got almost another 5 points. Right before lunch we got a nice break above 995 and I caught a long for 2 points. Had to get out quick though because the indicators starting giving mixed signals. In the end, that early lunch trade ran pretty good, all the way back to 1k. They could barely get it over with the late push and the system signaled a short after hours. I don't trade pre or post market so didn't take that last one.
Notes on the blog:
You will have to excuse my sloppy charts, I need to make some improvements on the site and pictures still. I hope you guys follow along. Please visit the sponsors and Big Mikes Trading blog at http://blog.bigmiketrading.com/ . See you tomorrow