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1: MARCH 30 YEAR T BOND
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USDH8 O=118-13 HI=118-10 LO=118-04 CL=118-16
I couldn't get a handle on the open ... not high enough to bring -16 into play nor low enough to hang onto -00. Initially it looked like we'd get some -00 play but not to be. I think I would;ve bought the quarter at -08 if there'd been some momentum at play. It just went
to sleep for about 25 minutes before taking off on a run to -22. I thought it started getting pretty attractive as a sell bouncing weakly up there at 118-20/21. I had to wait for the -16 however. I sold -14 and escaped at -11. As it touched -08 I rooled the stop to -11. Walked
with my measely 3 for $93.
All the weekend numbers ... 118-16, 118-00 and 117-16 remain my main focus.
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2: MARCH CANADIAN DOLLAR
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CDH8 O=9801 HI=9853 LO=9791 CL=9822
After cruising higher from the RTH open the CD stalled at 9850 and broke to 9810/05. It quickly turned and raced back to near 9850 and again broke hard to the south. I was rooting for another touch at 9800. There it was. I bought 9806 and entered my stop at 9797. They got me
for a loss of $90. I came right back and bought 9806 again and placed my stop at 97. Off we went on a nice run back higher. We touched 9830 and ran out of gas into the close. I rolled my stop up to 9827 and immediately got hit. Out at 27 for $210.
We'll stay with the numbers from the weekend for play tomorrow.
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3: MARCH SWISS FRANC
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SFH8 O=9110 HI=9213 LO=9104 CL=9179
The SF climbed higher and out of range of our numbers. Nothing done here today. Hang on to the weekend numbers and let's give 9180 a go on the short side. We climbed up into the double top resistance above 9200 and have begun a break lower. If it gives us a look at selling a break of 9180 I will with a stop at 9183 or 87 for extra room. If I can get that trade down into 9125/20 territory I'll be plenty happy to roll tight and challenge them
to come get me. Get the trade to B/E by 9269 or so.
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4: MARCH MINI RUSSELL 2000
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ERTH8 O=710.25 HI=717.50 LO=708.50 CL=712.70
After the initial big drop to just above 708 I bought 712.30 and took a loss of $130. I bought 712. 30 again and exited at 713.80 for $150. I then sold 711.70 on the break below our 712 number. I exited at 708.70 as it touched 708 and turned for $300. I bought 708.30 and exited at our number at 717. I actually exited at 716.40
for $810. I closed down for the day with a tidy 41390 for the day.
Boy, we look weak down here. Be doubly suspicious of long trades. Tightly manage with real iron hand stops. Shorts can be played with more confidence but we coulkd run out of structure at any moment. Stay on the 704, 08, 12, 17 and 720. i think we're going to get paid off this whole week on these numbers.
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5: MARCH MINI $5 DOW
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EYMH8 O=12261 HI=12834 LO=12590 CL=12798
I had too much happening in the Russell o play in the DOW today. They didn't show much respect for our numbers in any case. Stay on the same numbers from the weekend fo tomorrow.
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6: FEBRUARY GOLD
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GCQ7 O=899.40 HI=915.90 LO=893.10 CL=903.40
We wre in the stratosphere by the RTH open. Having hit 915 and change we were correcting nicely. I sold 909.50 and exited 904.10 for $540. I sold 909.50 after the pop back higher and again exited at 904.10 for another $540. Both of these trades were greatly assisted by "Once Broken" technology. Which took us out of the
trade without us even having to think about it.
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The Daily Update is a publication of Daytrading by Ambush
http://www.daytradingbyambush.com
tom.mostlikely@verizon.net
Copyright (c) 2008 daytradingbyambush
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RISK DISCLOSURE!
Trading commodity Futures and options on futures involves
significant risk. You must consult licensed professionals or your own advisors before trading to determine if it is suitable for you.
Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. You must consult your broker or advisor before making any trade to insure current prices, margin requirements and other factors determinant to suitability. By reading this publication
you agree to make no trade relying in whole or in part on the comments of the writers. You agree before doing any trade contained herein to consult your charts and advisors to verify all information and make your own decision.
Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those
shown.
In fact, there are frequently sharp differences between hypothetical performance results and actual results subsequently achieved by any particular trading program.
One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk and no hypothetical
trading record can completely account for the impact of financial risk in actual trading.
For example, the ability to withstand losses or to adhere to particular trading program in spite of trading losses are material points which can also adversely affect actual trading results.
There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all of which can adversely affect actual trading results.
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