Jul 012010

Well that was quick. I felt the OH was weak as I said pre-market but I was still a little shaky on that trade based on the timing. I generally don’t like trading right off the open when price is flirting with a level like that but I felt with the hundred lot traders on my side I was a little better than even money on that trade. I knew I would be nimble and if I didn’t win it right then and there I would bail. That is exactly what I did. So that one was basically a wash. Also as I sad pre-market given the weakness of the OH, the high side of the range where the pivot is will be the spot to consider which as you can see is playing out just that way. We may wait for some rotation to settle in and then fade the 29-30 area if it sets up that way. I have a meeting but if I were hanging around I would be more interested in fading the flush down later long around the OL or even 15 or 12. Should be some good stuff there. For me it looks like a BE/tick or two loss is what I will end up with today.

 Posted by at 9:52 am

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