========================================================
Daytrading by Ambush Update for Wednesday February 21, 2008
========================================================
Reporting trades from 2/20/08.
========================================================
1: MARCH 30 YEAR T BOND
========================================================
USDH8 O=11524 HI=116-05 LO=115-07 CL=115-29
We continued the run south as economic reports out this morning
were slightly better than expected. Together with some comments
from FED members had the market in a mood to discount recession
talk and focus more on inflation.
I sold 115-14 shortly after the open and exited at -07 for $218.
We almost got low enough to let us play 115-00 but not quite. A
play of the quarter at -08 would have worked nicely. I bought
115-19. I didn't like this trade from the start. In fact, I almost
didn't take it as I felt we'd been on abit of a long run. I exited
at 115-31for $375. I next bought at 116-03 and was stopped at
115-31 losing $125. I did 2 sells at 115-28 and got stopped at
116-01 losing $156 on one and BE on the other. I bought 116-03
once and was stopped at 115-29 losing $187. I made a net $125
on the day.
A very disappointing gat to say the least. On the bright side I
kept my discipline and kept the day positive. At least that reinforces
the confidence level in the methods we employ.
For Thurssday we'll watch 116-16, 116-00 and 115-16 for first
action.
========================================================
2: MARCH CANADIAN DOLLAR
========================================================
CDH8 O=9922 HI=9890 LO=9802 CL=9873
Dang it. We had the numbers so pegged. Problem is it did the break
of 9880 in the wee hours of the morning. It was a thing of beauty.
I thought the retest to 9802 was good enough to play so I bought
9807. I exited at 9828 on a pullback from just above 9830 for
$210. I missed a sell on the break below 25 but wasn't too worried
by it. We retested 9800 again ... or close enough at 9802 ... I bought
9807 a second time and exited at 9825 for $180. I thought I was
entitled to a fill closer to 40 but you can guess how that conversation
went.I bought 9827 as we climbed above 9825. I could've had my
stop at 23 or 17 I chose 23 since we'd favorable moved some. I got
stopped at 9820 on a real violent spike lower for a loss of $70.
Naturally it took off to 9870 shortly thereafter. Not only did I suffer
the loss but it deprived me of an opportunity to get back in ... so a
double whammy you could say. That's why we call it trading and
not winning.
All the weekend numbers for tomorrow, Thursday
========================================================
3: MARCH SWISS FRANC
========================================================
SFH8 O=9096 HI=9107 LO=9076 CL=9102
I never got hooked up with the SF today. I watched the open of
RTH ready to go at 9100 but it happened really quick and I had
other fish fryin' as well. I did nothing here but will sure be looking
for a resolution at 9100. Nice little triangle shaping up. It may
have happened already since we're now at 9070. We'll see at the
open.
========================================================
4: MARCH MINI RUSSELL 2000
========================================================
ERTH8 O=706.40 HI=712.90 LO=694.30 CL=711.70
The market saw tough sledding early as some caution krept into the
mindset of traders. I sold the break of 700 at 698.80 and closed
it at 697.10 for $170. I held this a long time in the overall scheme
of things. It just would not move so I gave up to tell the truth. I
sold 699.40 and exited at 695.10 for $430. I tried to buy the 698
break but couldn't get it done until the 700 break. I bought 700.60
and exited at 699.50 losing $110. I bought 700.50 and patience
paid a dividend. I exited at 707.90 for $740. I sold 707.40 and
exited at 705.10 for $230.
I closed down at that point. The focus had diminished.
All the weekend numbers are in play.
========================================================
5: MARCH MINI $5 DOW
========================================================
EYMH8 O=12255HI=12465 LO=12230 CL=12429
I was waitin', poised to go off at 12200. It didn't get there but it
came close. I took a stab at selling 12400 late in the day. I made
lunch money and that was it.
Stay on the Weekend numbers.
========================================================
6: APRIL GOLD
========================================================
GCJ8 O=930.60 HI=949.20 LO=916.10 CL=937.80
I bought 921.50 and exited at 924.80 for $330. I couldn't get
back in again until 930. I bought 931.50 and exited at 937.80 for
$630. I was gone from trading by the time 940 showed up.
There was almost $300o in polay today. We got about a third of
that. We did good, not great, but good. Sure I would ahve liked
a bigger piece of the available pie. We had a little bad luck in
the way that the price flow played out today or it could've been
a much bigger day.
I'll play 940/950 tomorrow if given the chance.
========================================================
========================================================
The Daily Update is a publication of Daytrading by Ambush
http://www.daytradingbyambush.com
tom.mostlikely@verizon.net
Copyright (c) 2008 daytradingbyambush
========================================================
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.
========================================================