Still out, the ES bounced from the mini spike down at 16:14 and went back to the range established earlier today. Saddam April futures still in the 66/67 bid/ask area I don't think it's worthwhile to risk one tick overnight today either shorting or buying. No clear bias. "when in doubt, stay out W.D.Gann"
index futures crawling up again, broke yesterday's range at 7am, after centcom announces Americans within 10 miles of Baghdad. Americans past the "red zone" but no chemical weapons have been used yet april saddam futures 71/72 bid/ask up wait for the initial claims number at 8:30 if you're flat. careful later ism services # at 10am
this day looks like one of those days when you have to enter and re-enter. I like 874.75 for a bottom and I am playing it with a tight stop, but depending on what happens could go short later. shooting for 3-4 points trades as insurance against the chop. sorry guys i have to pay attention to my screens, this could be choppy, trade the trend at your own risk, thanks everybody for participating in the poll.
Choice of strategy to play choppy market paid off. Bottom at 10am still respected. market tanking because of rumors about Baghdad blackout, US not responsible, it could be Saddam setting the scene for WMD. news about Saddam airport seizure made no effect. too early still to play trend (to either side). if you know how to trade with 3-4 points target go for it.
flat overnight if you're not watching the news, you could make a lot but you could lose a lot too if you go short or long. today the market basically stayed within the high and the low of the first 30 min, a bad day for trend traders, a good day for "intraday swing" trading.
Ultra-choppy mode, guns set to automatic - 100 shots a minute (kidding) the market had trouble breaking 884 earlier today and 882.50 is now the high of the first 30 minutes, don't see a lot of room to go downsied either (unless some reallt bad news) will be playing it like yesterday, 3-4 pts targets (more doesn't hurt) and watching the news closely.
iraq information minister: Iraq may take "non conventional" action tonight (iraq time i guess, 8 hours ahead of EST) also, april saddam futures down hard to 62/70 bid/ask (geez looks like eighties NYSE bid-ask spread) i will stick to my current plan, it's working right now. just bounced from yesterday's low.
bounce again from yesterday's low, target around 876.50, reevaluate when target is met or if price action becomes adverse