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.
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
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. JJ
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...
What is this a bad dream? http://www.elitetrader.com/vb/showt...&perpage=6&highlight=ym in a can&pagenumber=1
Wow...you are digging deep...hehe Look... let me try and lose money in new and unique ways.... Master YM Trader Michael B.
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...
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... SockPuppet ES
Since we are diggin' deep... It seems like the entire world is looking at the Dow.... Naturally, I am there with the masses....they are googling this thread as we post... No worrries...the master is here and on top of it... Michael B. http://www.bobrivers.com/player/player.asp?atype=tunes&ID=769&Speed=4