Emini Podcast / The Daily Futures 10/31/11
(QQQQ)(DIA)(SPY)(GLD)(SLV)
MF Global and Euro-Zone worries take further toll on markets. At the end of today's broadcast we said we liked being short below 1264 on the ES / S&P 500 Emini Futures. The ensuing decline delivered 22 points. Markets have made a small attempt to rally on the Asian open. If price does trade higher on Globex watch 1256 on the first trip up as potential resistance. Despite today's sell-off we believe this week still holds the potential for moderate volatility.
Updates on last night's Tweets
Euro - 253 pip drop
Russell - 210 tick drop
ES - 33 point drop
YM - 238 point drop
Past performance does not indicate future results. The ability to hold any trade for it's maximum potential is difficult. OK, nearly impossible. Let's try "dumb luck". Here's my point, not one of these trades required you to get in at the top or out at the bottom to generate a reasonable profit. Give that some thought when you put on YOUR next trade.
Live Emini Trading Room Results
(video to follow)
Michael will be out tomorrow. Tomorrow's Live Trading Room will be a bit different. That's because I'm a bit different. If you know what I mean.... boo!
Reader Comments