If Fed cuts only 25, what is best strategy?

Discussion in 'Trading' started by DataCruncher, Jan 30, 2008.

  1. Go long if the dow breaks out above 12,500
    Go short if the dow breaks down below 12,400

    figure out your own stops and profit targets :(
     
    #21     Jan 30, 2008
  2. :D
     
    #22     Jan 30, 2008
  3. Sitting back and watching the market for pure entertainment value ....
     
    #23     Jan 30, 2008

  4. Worked like a charm! not filled ER2, but took 10 quick points outta spoos. Now waiting for mkt to settle and trend into close.
     
    #24     Jan 30, 2008
  5. long with no stop = CHACHING!!!!

    lol
     
    #25     Jan 30, 2008
  6. just in case anyone is wondering (or cares). ER2 wasn't filled cause had a stop limit to prevent massive slippage. gambled on the ES and got in just before report because market players seemed to know what was going on.
     
    #26     Jan 30, 2008
  7. jayford, interesting play you did, can you tell me which broker you are using and what exact stops and limits you used on the bracketed orders?
     
    #27     Jan 30, 2008
  8. looks like SPY crossed its 20 day SMA. i don't think it will hold
     
    #28     Jan 30, 2008
  9. #29     Jan 30, 2008
  10. I use IB. I don't seem to have the probs other people do with them. if i did more volume, I'd go over to transact however.

    I bracketed ER2 at 701.20 sell stop/700.20 limit. and 705.20 buy stop/706.20 limit. Set these prices based on hi/lo of 2 mins just prior to report.

    Didn't want to give up more than $100 per ct slippage. Market gapped right over me. no fill.

    I entered the ES just before report, small size as it was a gamble, but with good R/R.
     
    #30     Jan 30, 2008