Tuesday, July 5, 2011

7/5 2:05

SPX and DJI have completed their c wave up.  I have no exposure to Nasdaq and had a stop order at 2353.25 which never got filled.  Meanwhile the SP 30-minute M/A crept up to the current price range.  Selling 1% ES  futures at 30-minute, 92-unit M/A minus .5% on a 30-minute close.  Currently any 30-minute close below 1326.


  1. When you say you are shorting 1% ES, does that mean you are using 1% of your capital as margin deposit (hence notional principal around 10% of your capital) or does it mean you are shorting 1% of your capital as notional principal (a much smaller position)? Thanks.

  2. Hi Spud, 1% of capital as margin deposit.

  3. Steve

    Silver has reached a point of resistance, $35.65. You can draw a line from the highs of the last 5-6 weeks and that is where Silver is now. Might be a good short?