Tuesday, June 2, 2009

Tuesday Day Trading: Long ES 1st Bar Spike Reversal

Click on chart for a larger picture of the ES market trade. This was a quick trade after the release of the 10AM Red Report => Pending Home Sales.

Today for every 2 contracts traded this trade earned $500.00 or $250 per contract.

As I look at the markets closing today, my quote board is reading all GREEN today! I can't remember the last time I saw that ... is 1000 on the S&P within reach this week?

Things that make you go hmmm...

Good Trades,

David AKA Tiger

P.S. Obviously GM filing bankruptcy is historic, and yesterday normal trading rules really didn't exist. The best way to handle this was to sell bonds and go long the ES.