Well, once again betting against a yield curve that is not inverted is proving to be a dangerous bet longer term.
One of those days where you don't want to chase it up here, but shorting it is just as freaky with a +2350 ADDEC line. Gonna let the noise play out a little more before committing. The overnight was much easier. Watch Zn resistance at 129'250 (u1)
08-22-11 07:57 AM 08-16-11 07:37 AM 08-11-11 06:27 PM 08-09-11 10:21 AM 08-08-11 09:08 AM 08-05-11 08:29 AM 08-03-11 08:36 PM 08-03-11 07:43 AM 08-02-11 08:38 AM 08-01-11 10:12 AM 07-28-11 07:11 PM 07-26-11 08:42 AM 07-20-11 07:23 AM 07-14-11 06:19 PM 07-11-11 08:29 AM 07-08-11 07:51 AM 06-30-11 09:47 AM Currently short the Sep ES contract at 1314.50. Stop is 1372.50 6/30/11. --Maintaining short here. Stop remains the same.7/8/11. --Maintaining short here 7/11/11. Stop remains the same --Maintaining short here 7/14/11. Stop remains the same (outside the noise) --Maintaining short here 7/20/11. Stop remains the same --Stop remains the same 7/26/11 --Stop continues here 7/28/11 --Don't see a reason yet to change stop 8/01/11. Staying short --Will be looking very soon to lower the protective buy stop. Keeping it the same today however. 8/02/11. --Staying short here with the same stop. 8/03/11. --Stop lowered to 1361.75 8/03/11 --Continuing with same stop here. I believe this bounce is short covering only at this point. 8/05/11 --Staying short. Same stop 8/08/11 --Stop lowered to 1271.00 8/09/11 (possible error in stop placement--stop is too close to the noise) --No change in position 8/11/11 --No change-staying short --same stop 8/16/11 --Continuing short here. --same stop 8/22/11 --Covered short here at 1195.25 for 118.75 pts profit per contract. ( I do not consider the trade closed--just rolling into the next month. ) --entered short in the Dec contract at 1189.25 Initial buy stop is 1368.00 (using this opportunity to correct my poor stop placement at 1271.00.