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Earl:
Well...I'd like to lie and say it didn't bother me. But having missed the
move up Friday-early today, I am willing to risk the 5 pts to new highs. I
liked that it tested the 1270 area several times before lunch and could not
break through...leaving that cluster of lows.
It's 1;48 cst and S&Ps are at 1255. I am still short and I've moved my stop
down to 1263, which is a touch above the overnight gap. If further new lows
occur, I'll keep ratcheting my profit stops lower.
Tim
At 12:41 PM 4/30/01 -0600, you wrote:
>Tim, Good trade. I note that break occurred at 1240 Chicago - aren't you
>leery of entering breakouts which occur during the thinly traded lunch
>period? The locals seem to pretty consistently drive the premium one way or
>the other around 12:30 which more often than not results in a false move.
>
>Earl
>
>----- Original Message -----
>From: "Timothy Morge" <tmorge@xxxxxxxxxxxxxxx>
>To: <realtraders@xxxxxxxxxxxxxxx>
>Sent: Monday, April 30, 2001 12:11 PM
>Subject: [RT] E*Mini S&P update
>
>
> > Good afternoon, RealTraders!
> >
> > With the strength both the Nasdaq and S&Ps were showing on the opening, I
> > remained flat--I was leery of this upmove and was not bullish. Obviously,
> > they have both shown more strength than I thought they would this morning.
> >
> > But once prices tested 1275 in the S&Ps, I began running a stop sell entry
> > at 1269 1/2. I am now short at 1269 1/2 with stops at 1275 3/4 and first
> > logical target at 1262 1/2, second LPO at 1260.
> >
> > Best,
> >
> > Tim Morge
>
>
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