Wednesday, March 31, 2010

3/31 10:45

Sold 5% SSO at 42.19.  Hit the SPX 15-minute 54-unit M/A.
Quick trade. Look to re-enter at DJI 10,860.
There are stock market 3 M/As that I rely on:
Futures 30-minute 92-unit M/A +/-.5%
SPX cash 15-minute 54-unit M/A +/-.56%
DJI 5-minute 380-unit M/A +/-1.2%
I have tactics surrounding all 3.
The SPX cash M/A was broken at the open at 1172.57. Subtracting .56% leaves 166.  SPX hit 165.77.  I normally give 20 ticks so this is within the envelope.
The futures M/A spread to its low was 1168.75 M/A - 1161 low = .66% which is outside of its envelope.
On the plus side the market has made a 5-wave advance off the low, so I definitely want to get back in.

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