Mar 152013
 

trade_130315

Distractions, distractions… a bain of discretionary traders.  I’ve been dealing with a refrigerator for several weeks now.  First the cooling went out and it turns out the motherboard needed to replaced.  That fixed the cooling, but then the fridge started freezing food.  Long story short, after 4 visits from the repairman and 2 motherboard replacements, the fridge is still freezing food.  I lost track of time dealing with the follow on repairs and the cash markets had opened before I realized.   I mention all this because a nice short opportunity unfolded off the cash open and I missed it.

By the time I got my ducks lined up, the ES was double bottoming at the top of the DTG 49 level.  It wasn’t a strong opportunity, but I jumped on long anyways.  The trade ran into the Consumer Sentiment report which came in very poor, poor enough to warrant immediately scratch the trade and wait for the next opportunity.  The ES tumbled down to the  bottom of the DTG 49 level where price unfolded into a second long opportunity.  

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