4/1/2010 Post Trading Analysis

I expected a move up, but not like that in terms of volatility. Makes sense though as volume is so light and a feather could move the market. My partner called the upside break and traded it for 2 points off the open. I waited for the exhaustion at the top which happend early just after 9:45. But I didn’t like that one as it was pre-news and I figured it wouldn’t have the follow through. I was right thankfully. I got the second push up and fail just after 10AM EST and a nice entry short at 76.75 with some fills at 76.50 and hopped out at the center of the 2/25/2010 high cluster at 75.00. Should be some more stuff later for those trading the whole day. UPDATE: Note 69.50 long fade worked for a scalp a little after 2PM EST on rejection of that low volume area overnight. Long 69.75 out at 70.50 as it starts to stall. We may see another flush all the way down yet. Watch out for fast drop under 68.00. UPDATE # 2: ….both the breakdown under 68 into the OL and the OL fade materialized as textbook trades as well. The breakdown was short at 67.75, flat at 6675. The fade was long 67.50, out at 69, another key level from the AM sheet. Pretty much every trade ended up exactly as on the AM sheet for today…