Friday, October 24, 2008

ES Z8 10-24-08


E-mini's traded up during US Hours competing with the malice and mayhem caused by European traders in the early morning hours. This little engine could not break the downward momentum caused by fear and indecisiveness! There was one attempt to break this downward trend, most likely caused by sellers buying back their contracts, at least I know I was. This upward momentum occurred at the 2:00 ET trading hour as sellers surged to get out of their positions before the weekend. No short term trader in their right mind would want to hold anything over the weekend! In this period of uncertainty, you will certainly be taking huge risks with whatever "plans' the BOE, ECB, and FOMC may have to unleash over the weekend. That is unless you know a guy that knows a guy named Fair, Triche, or Berneke

No comments:

Post a Comment