Bernanke is a smart man no doubt, but trading today sure felt like a dumb thing to do. Nevertheless, one solid trade stood out an that was to be short oil. Aside from that, it was feed your broker day as the market toyed with support and resistance in classic schizophrenic fashion. Ok, let's be fair, we did establish the importance of 1316.50 for ES and 1706.50 for NQ. So all is not lost and we take up the same battle we have been having for three days once again tomorrow.
I did get one trade clear out of the Fed speech and that was to be short gold. I think that one is due for a 20 point drop.
Same parameters apply, watch for a breakout or breakdown of the frightfully boring inside day we have been having for ES since Thursday.
I did get one trade clear out of the Fed speech and that was to be short gold. I think that one is due for a 20 point drop.
Same parameters apply, watch for a breakout or breakdown of the frightfully boring inside day we have been having for ES since Thursday.
This entry was posted
on Monday, March 20, 2006 at 9:20 PM.
