Equities: Only action on equities this morning was the sale of a partial ALVR position. Half of my holdings are up, while the rest are down, which is in line with market activity today. Range of Dow futures is a paltry 63 points low-to-high. Best acting stocks include LACO with a 5% pop, HALO nutting up with 2.8%, and AVNX chiming in with 2.3%. The downside see CNTF off 2.21% and VMC down 1.24% - basic profit taking based on their run the past week. I only have a third position on both CNTF and VMC; however, I like to add on strength rather than weakness. So, I wait on those two. I already have a 100% position with LACO, but only a 50% position with HALO. I will post when I pick up another 25% of this position.
Futures: I have been bounced around a bit by the futures market and Tradestation today. I originally caught the pullback in YM for 33 ticks, but then got chopped for -24 ticks on the follow up trade. Two subsequent trades resulted in -12 ticks on the YM. Just plain choppy after the initial dip. So, I am -3 ticks on the YM for the morning. (another words -$15 if you measure your positions by 1 contract)
I just pulled in +10 ticks on an ER2 short for the only Russell play of the morning (+$100 if you measure your position by 1 contract).
I got myself into a revenge trade of sorts this morning with gold. The battle resulted in me giving up -25 ticks in the end (-$250 if you measure your position by 1 contract). It was brutal and was based on my inability to walk away from the initial loss when my signal did not pan out. So, I man-up and live to trade gold another day. The worst thing I could do is to turn the trade into a swing or position trade after the daytrade did not work. No worries.
I am currently in a YM short and will update the blog of its outcome in the afternoon session.
Dow: -1.95
Naz: +0.33
S&P: +1.30
No comments:
Post a Comment