Thursday, July 22, 2010

7/22 Daily Commentary

The Minuette2 top was completed today.  We are now in Minuette3 of Minute3 of Minor3 of Intermediate1 of Primary3. EWI and I are back in sync as far as wave counts.  During the crazy day sometimes I post a chart with the wrong degree of wave labelling, but I generally post accurate labelling in the daily and weekly.
The orthodox top was made at 10:52 this morning and the rest of the day was spent "topping".  I got confirmation near the close and finished loading up on SDS and short SP futures bringing it up to 8% each.  I'll using trend following in the overnight session to ensure that the futures position is in the trend.  If the market rallies I'll back out of the futures.




I have been so busy in projects related to integrating stock index futures with cash trading tactics that I have fallen behind on maintaining the blog and even my own strategic analysis.  I went through the posts and made minor corrections to clearly erroneous (fat finger) entries.  I also updated the Trading History for this past week's trades.  Google Docs won't currently allow me to upload but when they straighten out their server issue I'll upload the spreadsheet.  I apologize for the hurried posts over the past week but it has been amazingly busy incorporating the real-time futures world with the cash markets.  I'll be posting the results of the various projects over time.  I still don't have the robot able to ship orders, so that is an ongoing project.  This will enable me to sleep and still catch overnight trend changes with small orders.

3 comments:

  1. Steve
    with the European stress test results coming out in mid trading day tomorrow, do you think that will be the catalyst? If so, choppy nowhere trade until the release? I've been in training all week hence being out of touch.
    Charles

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  2. Hi Charles,
    Welcome back. Perhaps. The wolves will seize any excuse to kill the lambs. I expect downward move tonight, though.

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  3. I am 4% short through SSO puts and SDS calls.

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