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1: MARCH 30 YEAR T BOND
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USDH8 O=118-19 HI=119-26 LO=118-17 CL=119-17
The bulls have fim hold on things that's for sure. Retail sales sent the Bonds cruising higher. They really never let up all day. We easily took out the November highs and we're continuing into the night. Until some serious inflationary comments surface we'll find ourselves up here in the rarified air of 120.
I did nothing today. I'll buy pullbacks to 118-16 and sell breaks below 119 while keeping my eye on the wekend numbers although I doubt we'll see those the rest of this week.
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2: MARCH CANADIAN DOLLAR
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CDH8 O=9829 HI=9874 LO=9804 CL=9835
I got no chance to trade the CD today as it eluded my numbers all day. In hindsight I should have added selling failures at 9850.
There was money there today and it was very easy to see it and get it. Wello after the RTH ended CD slowly crept to 98 and is currently breaking south with some gusto. The number are again great but only the night owls are rejoicing.
Continue to watch our numbers for opportunities. We are on the sidelines until we build some structure on the south side of the chart.
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3: MARCH SWISS FRANC
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SFH8 O=9175 HI=9237 LO=9163 CL=9190
Power on the upside. I don't believe the double top has been dealt with yet but it's very close to game over. Yesterday's action higher which continues into the night has just about slain the double top.
I'm looking for the chance to sell 9180 on a break there. No structure allowing me to buy presently exists.
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4: MARCH MINI RUSSELL 2000
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ERTH8 O=713.20 HI=713.70 LO=695.50 CL=701.730
I sold 711.50 shortly after the open and exited at 705.10 because I am old and slow. The only solace is I know a great many more ways to enjoy the $640 we captured. I sold 703.50 on the break lower at 704 and exited at 700.50 for $300. I was tempted to sell the retest of 704 near end of day and just hold it into the night. It would have yielded another $4-$500 but I'm too rule bound. This was a very easy, low stress almost G today. It looks
like we'll see more down tomorrow as almost every equity market in the world is called down for the opening tomorrow.
I'm adding 700, 698, 692, 688 and 682. All these numbers are borrowed from the weekly chart. Most of you know this is something I don't normally do. We are so clearly weak I want to be playing and borrowed structure is better than no structure. As we've discussed before ... as lkong as we know we are breaking rules and ratchet up the management appropriately in a broken rule environment I
think we're OK.
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5: MARCH MINI $5 DOW
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EYMH8 O=12520 HI=12564 LO=12431 CL=12564
12700 was big, fat and very round. I sold it at 12685. The market wasn't whispering it was shouting "Sell me". I exited at 12555 on a "once broken" play when it popped back above 12550 ... one of our numbers. The gain was $675.
I'll do some work on finding lower structure over the weekend. No time right now.
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6: FEBRUARY GOLD
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GCG8 O=904.60 HI=916.10 LO=888.60 CL=902.60
Gold began climbing from the opening bell. Right up to form a double top at 916. I was very tempted to sell when I saw it happen but didn't. I would not find fault with anyone who did. I thought it was all but a slam dunk sell. I got one short at 908.50 and exited at 900.30 for $820. It dropped anoth thousand dollars from there but too late in the day for me.
Looks like the play tomorrow is 890/900 or 890/880.
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Copyright (c) 2008 daytradingbyambush
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