Ah..option expiration day. Most likely , you might get chopped out. I did not trade, anyway, there was no setup as well. So I did not make any ‘Z’ . 🙂 Here are some 30-min charts to show how boring was the session.
E-mini Nasdaq
[photopress:Emini_Nasdaq.jpg,full,centered]
E-mini S&P
[photopress:ES.jpg,full,centered]
mini-sized Dow
[photopress:mini_dow.jpg,full,centered]
E-mini Russell 2000
[photopress:Russell.jpg,full,centered]
There was a gap up in 5-min chart of ES (E-mini S&P). Volume is healthy as shown in first 30-min. E-mini Nasdaq and E-mini Russell 2000 had gap up in 30-min chart. So far, intrady, market tone is positive. If I were to trade today, I would only consider Long position.
Ok, before I leave to Taiwan, here is the Economic Calendar from 18-September-2006 to 22-September 2006.
Have a profitable week ahead.
[photopress:weekly_eco_calendar.jpg,full,centered]
Nothing interesting. No trade was made.
I will not trade on Friday as well. Gotta pack up my luggage and do some planning for my Taiwan trip. ‘Naruwan Taiwan’.
I choose the right time to visitTaiwan.
1. Political instability, people are protesting on the street.
2. Typhoon ‘ShanShan’ approaches Taiwan
3. Earth Quake at Yilan city (Well, this is fine, I can avoid this area)
4. What else?!?!
Looking at the weather forecast, it is going to rain everywhere. Darn, I need some sunlight to bring me hope.
Btw, I have been spending sometime reading blogs these two days. And I revisted Trader-x’s blog. I visited before, but I found the layout was kinda messy, so I did not pay much attention to it. Darn, I guess you know, it is an excellent blog from the X-men! I read again his trades and it really enlightens me. If you have not visited his blog, then go and check it out now.
I know there are some debates of R going on. I am not going to join. I found it useful for my trading, so I use it. If you do not, then leave it.
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E-mini S&P opened low (in fact, from 30-min chart, it was a gap down) and moved high, trying to fill the gap in the first 30 minutes. Volume passed the 6 bars test, a volatile day ahead. I don’t see strong momentum from the opening price action of E-mini Nasdaq, mini-sized Dow, E-mini S&P or E-mini Russell. By the way, today is Thursday of option expiry week.
Most probably, I will spend my time watching rather than trading today.
Right after oil inventory report was released, my buy stop for E-mini Nasdaq was triggered. The trade did not go in my favour. Stop loss was triggered with 1-R loss. Well, too bad.
It seems to be a consolidation day after yesterday’s gain. But, who knows. Anyway, I will stop trading for the day.
