Tuesday 12-11-07

Fed day:

I have only one basic plan and that's shorts if it sets up. I'm looking to do a few things:

1)Establish a small short position pre fed annoncement IF and only If we haven't sold off hard ahead of the announcement

2)I will look to take 8-10 points profit If they run it down after the announcement

3)Establish a core short position if they rally it up into the 40's once it is announced...and we go up first..

4) same target..8-10 points , then trail

options 1 & 2 will be an all "out" on targets where 3 & 4 will be trailed..

Ok, that's the plan...

I expect a narrow range through lunch, perhaps a couple of probes one way or the other, but overall I have no directional bias going into this Fed announcement.

i'm in at 22.50..looking for 8 points..on downside....

good luck Bruce, hope resistance holds for you

just bailed at 1412.50 and 1406.75...done with this day....scary stuff

96 - 94 is next possible support if anyone is looking to get long..naturally the key 1500 number and the window....all the excitement...I wish it was the 1400's...sorry for typo's..those are 1512.50 and 1506.75 fill prices...lol

nice trade Bruce !

thanks PT...it's borderline gambling in front of the fed as you know but it just seemed like it was marked up too far.....the old buy the rumour sell the news still works....sometimes...!!

quote:

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Originally posted by BruceM

i'm in at 22.50..looking for 8 points..on downside....

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So you were targetting 8 points and got what? 10 points and 15.75? That's excellent trading! Well done!

This is what today looked like. The chart doesn't really do the day justice. Remember that the range for today was 51.5 points and this is compressed into this small chart. It was a BIG BIG move day.

thanks DT..that is correct..very fast conditions so I had positive slippage for a change...

quote:

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Originally posted by day trading

quote:

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Originally posted by BruceM

i'm in at 22.50..looking for 8 points..on downside....

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So you were targetting 8 points and got what? 10 points and 15.75? That's excellent trading! Well done!

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possibly, but just as easily could have been "loser" of the year....an occasional "gamble" is ok if your not betting the whole load....

quote:

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Originally posted by pt_emini

quote:

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Originally posted by BruceM

thanks DT..that is correct..very fast conditions so I had positive slippage for a change...

quote:

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Originally posted by day trading

quote:

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Originally posted by BruceM

i'm in at 22.50..looking for 8 points..on downside....

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So you were targetting 8 points and got what? 10 points and 15.75? That's excellent trading! Well done!

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Gets my nomination for Trade of the Year !

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