I am thinking about going short in the YM late today 03.22.07

Discussion in 'Index Futures' started by ElectricSavant, Mar 22, 2007.

  1. I need to see how the day pans out...

    I would enter a limit order target of 50 YM points (5 bucks a point) if I "get in", with one contract. This is little stuff.

    I would exit ...stay in... or reverse with a "time stop" on Friday at near the close if the target was not realized.

    This is considered an overnight hold and the speculative margin of $2,813.00 initial and $2,250.00 maintenence would apply if I entered. This is the symbol YMM7 (June 2007 contract).

    what do you guys think?

    I know I am a "one contract per 5K" piker heheh...

    Master YM Trader
    Michael B.
  2. Well unless there is a huge sell off in the next few hours...I will not be entering the YM short today near the close...maybe tomorrow near the close of the Dow Cash (Yes I said the Dow cash! The Dow is made up of equities and I look at each componet and work backwards from there) ...I shall see if there is an entry tomorrow...the market will tell me...Oh..did I tell you that I am a genius?

    This really is exuberence for the Bulls...pegging out my magic indicator....that I bought from a kind Nigerian soul that I am sponsoring :)
  3. While we don't quite yet have a decent LH in yet, there is very nice triple divergence and volume is very light after a nice run-up, showing sparse, if any, buying.

    It's as decent an overnight trade if any, but if I were making it I wouldn't limit the downside just yet.

  4. JJ,

    Thanks! But I might wait until tomorrows close and open a hold over the weekend...I need more information, unless something happens real soon and it would take a lot to cause my entry today...But I would not enter long either...if I were already long I would hold however...

  5. Surdo


  6. Hey...I give new meaning to standing aside, while all you pro's are banking bucks...

    reminds me of my poker game in Vegas a few years ago..i just could not feel the table, so I just kept watching and was in the game but not playing...then i finally put a bet out and they all freaked...

    I am going to grow my 5k into millions!..tell Mr Double he aint' seen nothin' yet...the master is (not) trading the YM...
  7. Surdo


    Michael B.:

    You are retired from Fx?
  8. I never retire, I just go away...:)

    hey there goes the YM up up and away....no shorting for me...definatley...tomorrow looks like a short at about this time however...


  9. #10     Mar 22, 2007