Friday, September 7, 2012

So we have good news and bad news - which do you want to hear first?

The good news - we didn't lose any money...after-all, we were trying to sell the market, and we correctly identified the oversupply pat on the back...strategist job well done

The bad news - i didn't sell the market because there was no strength to sell into.  I think if i had woken up before 2:45am  i would have realized this and sold the bulb of the "b" which was 132-23  (for some strange reason, i've had difficulty waking up early lately...maybe its the whole "summer in NY" thing).  Unfortunately, i didn't, so i didn't. trade.  Non-farm payrolls comes out at 8:30, and this usually creates some volatility.  With the oversupply condition firmly in place, there is a large community of longs out there who don't want to be long.   My call for the post NFP price action is the same as my prediction for last nights price action...sell into strength.  There is no guarantee that there will be strength...but if there is, i want to sell into it. more thing...somebody slap me on the upside of the head for not getting short at least 1 unit at the bulb of the "b" after an oversupply condition.  We only get 2-4 of these a month, and they would pretty much make my year all on their own.  Next time....

govttrader out...

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