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Showing posts from July, 2017

July 30th Weekly Summary - Real Money Account Loss -$8.54 / Sim Account Profit $846

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The Week in Review We ended the week with 8 contracts short at an average price of 2440.00. All the near term cycle and intermarket analysis that we follow is pointing towards a correction. We could expect this correction to take us back to the 2400 levels. We will continue to monitor this trade, and possibly take additional positions should we see some definitive sell signals in the daily charts next week. When we successfully close this short position we will go back to Day Trading with a daily target of $350. Real Money Account We ended the week holding 8 contracts short. We took a small loss on the week of $8.54 due to commission and the carry costs on the contracts. Our net paper position at the end of the week was negative $11,195. Our current break even point is 2440.00 which is just below the 50% Fibonacci retracement level. The activity this week was mostly sideways with a down bias near the end of the week. Real Money Account Charts T...

July 28th, 2017 - S&P 500 e-Mini - Trading Activity - Today's Real Money Profit $0, Sim Trade Loss -$861

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Opening Comments The overnight activity looks a bit more encouraging for our short position. The late day rally, double test of the 2472 resistance level followed by a decline back to near yesterdays lows is the first time for a few days that we have seen any serious selling pressure in the overnight market. We are short 8 contracts with an average price of 2440.00. Our target is held over from early last week at 2419.25. Profit Target for this week is $350 per day, once we close out the current open position. Based on cycle and inter-market analysis that we follow, we are expecting a market correction in the near term, before the end of July. Real Money Trading S&P 500 e-Mini We are short 8 contracts from last with an average price of 2440.00 The 50% Fibonacci retracement level is at 2440. This puts us in a pretty good position for the pullback in the market that we are anticipating. Target set at 2419.25. We continue to monitor the situation. Yesterday'...