March 13, 2008

Trader’s Log

March 13, 2008

1. S and P 500

- Opened a little lower on poor retail sales news and I was short the market at about 1292. Market dipped to 1282.50 but I didn’t buy back looking for a further drop and then got clipped because I didn’t see the prior day’s support which created a move up. There was a nice rally to about 1320 part of which I caught. The market hit a top at about 1321 for the first time at around 2pm, went back and forth 3 cycles before breaking and closing at 1314.


Tech Notes: Used an EMA (exponential Moving average) Crossover to generate trading signals with some success (caught the breakout and subsequent rally at 11am (1287). Would have whipsawed me at 12:45 (1300) but caught the entire uptrend at 1pm (1300)


2. Crude Oil Future (Qmj8)

- Typical crazy ass oil day. Market opened at around 110 and there was an early rally to 110.750 (Weaker $$$?) A decline to 109.4 followed. The next rally got to 111.00 and then fell to about 109.4 again. I bought at this point (109.8) trying to get the next uptrend and was rewarded with a limit of 111.350. Then fell to 108.750 (at which point I was long at a point higher but didn’t close, (mistake?) the next rally took it to 110.1 and I sold once again to lock in another small profit.

Tech Notes: Nothing of value. Tried EMA crossovers but too many whipsaws. Perhaps an oscillator of some sort to assist in when to get it and out? Stoch had some decent signals(14, 14, 9) on 2 day chart with 5 min candles…