ES TRADING SYSTEM
Here are the trades thus far this year in the ES Trading system I have mentioned. In terms of full disclosure I missed two of the trades when I was back in Michigan moving my father into the retirement home and dealing with all of that. As a result my account trading this only is down a few hundred bucks so far where the system itself is ahead having generated 7 trades with 6 being winners. I always say that when trading a system you have to take all the trades or this can happen. Unfortunately for me with my situation with my Dad I was too distracted to deal with this while I was there.
Interestingly enough it generated 4 sells and 3 worked in the midst of this monster rally, go figure. However, you can see that trying to sell something like this is futile. Like in the Star Trek movies with the Borg, resistance is futile. I noticed today some Johnny come lately trading experts are pointing out what I did 2 years ago in this very blog, trading the short side on POMO days is a bad idea. I don't know if you can search my blog by key words or not, but if you can you can find the old posts where I discussed this.
POMO stands for planned open market operations ( I think ). In any event it is the days they inject the money to move the stock market higher as we have learned and they have basically admitted to. It stands to reason that you would not want to short the market on days where this is happening. It might be worth studying all of these days going back a few years and drawing your own conclusions. I suspect they would be along the same lines, the FED is not giving the money to the banks for them to take short positions. I don't know whether or not you can blindly buy on these days and make money or not, but I doubt you can make money on the short side.
Tomorrow we get the NFP ( No Frickin Probability it is true report ). If you want to watch it and try and guess your way through the reaction and how to trade it be my guest, that is too much brain damage for me. The shocker this week is that they allowed a report to show negative GDP in the fourth quarter to come out. How in the world did that happen? Of course the response is we are recovering and it is W's fault of course, LOL! These kids are funny at this point.
I would love to point out a bunch of things for tomorrow, but I don't see much to be honest. I do have some signals in the mechanical ES system but not much else. Once there are enough live trades in the ES system to evaluate, I will begin discussing that more in here. For now it is just getting started. There is one new trade possibility in the trading service for those getting those signals so I will refrain from discussing that one in here.
Wasendorf got a 50 year sentence today, who cares. I would prefer he be let go so I could go have a nice "visit" with him. Alas, I won't get that chance but it does not hurt to fantasize sometimes. Someone else would get to him before me anyway, jail is the safest place for him and too bad he gets that safety. He should be thankful it saved him a lot of pain.
The Newsletter will be out tomorrow.
Have a great weekend