Interdum stultus opportuna loquitur...

Monday, August 15, 2005

OK - Half an Hour Later...

Note - from June 24th 2009, this blog has migrated from Blogger to a self-hosted version. Click here to go straight there.

And ... I'm still bloody awake.

Still the 'call' at 12:31 a.m. proved adequate - the S&P futures have moved up from 1229 at the time, and have touched 1231 since (when the Dow ran into 10600 from above - a natural exit point).

Nothing to be ashamed of in taking a point and a half (do that consistently and your money doubles every eight weeks).

Otherwise, just move stops to breakeven and if it keeps moving up, move them to (Low of the previous 15 minute bar, minus 0.75 points).

If you're feeling adventurous, exit longs on 5-minute %R overbought and re-enter on any pullback of more than a point (again, with stops at L[15]-1.

It's all fun and games until someone get their eye put out...