Morning Update: 12/30/2011

Hello Traders

2:55 am…

As I write this update the ES is attempting to make new highs of 1258. After hitting support a couple of days ago the ES has bounced and is now approaching the highs set on 12/28 of 1264.  We are diffidently looking overbought here and would anticipate some sort of pullback. We will be taking it light today and will not be entering any new trades as volume is light and direction unpredictable. We took two small loses yesterday YI and DX. However, we reentered the DX short and we are now positive for the trade. We are anticpating an intiative move to the downside and will be leaving it on with our remaining ES trade for the rest of the year. Moreover, we reentered YI for a balance extreme play in which we are positive for the trade. I wish all of you a happy new year and see you in 2012!

 

Trade Well,

Olof Thomas

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: