Friday, March 22, 2013

Friday's trading

Another day, another bond short trade overnight. I've been mentioning the 143 '24 level all week, and again, I shorted there and covered for +8 ticks when I woke up in the morning. It did make new highs overnight, but the risk/reward on the trade was still better than 1:1.

One thing I am really kicking myself on is missing the 6J short, I posted the setup yesterday, but I didn't take it because I was also shorting ZB. Big mistake, if there's a trade, just take it. I'd have taken about 10 ticks of heat, and made about 50!

$ILF is going nowhere and I'll be exiting that trade come Monday morning. Hopefully we dont gap down big on Cyprus news.

$ZL_F came close to giving me a fill on the short, but didn't quite get up to 50.69 where my sell order was.

The $6A_F short I was in, I exited for a small gain, I got impatient on this trade, would've worked out just as I expected and I could've covered and flipped long at the hourly 21EMA. Noted, and will stick to the plan next time.

One other ETF I've bought today is $BRF, which actually lost another 1% today, its dropped 10 of the last 10 days so its as oversold as things get, and definitely due for a rebound.

I'll post charts and other setups over the weekend. For now, its time for a little R & R. 

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