Wednesday, 2 February 2011

Home and Hosed

As I write this, I'm lying in wait for the Gap trade on the ES. I was short coming down to the Fib where I want to reverse into an upward gap fill of a few points.

Snow in Chicago. The floor opening will be delayed, so the dynamics will be a little different. The impact of the few guys I saw left in the S and P pit is less, but none the less there are one or two who are quite energetic and are not giving up their livelihood with out a fight. I'm 4 ticks from covering the last of my shorts @ 1299.25 and making a decision whether to go long or not there, or hold out for a few ticks lower. I'll just continue writing when something happens.

I covered my last shorts as price blew through my bid. Not buying just yet as there is still over 15 minutes to go to the RTH open and we're hovering around the Fib.

Bought the RTH open and scaled a couple of times towards the UNCH.  The last couple of ticks took a bit but never looked like it wouldn't get there. Once the 2 EMAs were cleared, I was home and hosed (as they say in Oz).

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