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Thursday, June 03, 2010

DON'T KNOW WHAT YOU GOT TILL IT'S GONE

After trying to make do without my Snag it Screen Capture program for a week while traveling I realized I never knew how good I had it. All the free Online options or nested ways with my own trading programs just suck basically. It becomes way too much work to do what can be done so easily with this program. Below is a better look at the chart I tried to put up the other day showing where I was going long the NAZ.



You can see where my order I mentioned the other day was resting and where I am long from. The one concern with this trade is that the short term oscillators are racing way ahead of the price, which could mean this move is puttering out. It seems to project continuing to rise tommorrow when I try doing that with an up or down price bar, so maybe we have a bit more to go. I mentioned that the NAZ was the one that I felt was the strongest since it did not take out the Crash Day low when the others did, so that is why I went here to play.

I did also try to play the EURO long/Dollar short play last night and exited that trade for a small loss this morning when I saw I had made a mistake. Something about this trade is bugging me even though in my indicators it looks good. I cannot put my finger on it, but if we close down today and take out todays high tommorrow, I will go long again in the EURO. Tommorrow is the non-farm payrolls report, so we could see some movement in all these markets again come tommorrow. It seems as though Barry and his crew have rigged things to show a continuing improvement in the employment situation, so I do not expect an outlier number.

I mentioned that Crude Oil and the Energy complex was setting up for a BUY, here is a chart of how Crude currently looks.



We do appear to be basing here for a rally. Unleaded Gas is the strongest of the three here, so that is where I have been watching. This is the market most people follow, so I posted it. We get the electronic bars on holidays now, which mess up alot of the indicators for a few days. You can see the tiny bar the 4th bar back. These are annoying but still count as a trading session so they cannot be eliminated.

That is all for today


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