Tuesday, August 10, 2010

Interest Rate Statement


Didn't trade this morning as I knew the interest rate statement would provide some nice moves in the afternoon..therefore I worked at the marina in the morning so I could be around the computers in the afternoon..anyway here goes:

#1: A huge spike up after the announcement..once the move looked a bit exhausted I shorted on price action (pause and step below the tma)...out for a few 77 to 74

#2: After the huge move up was expecting some continuation...hopped in at 50 and it hovered here for a bit before breaking back up..love these trades as they are smooth sailing..50 buy and a 67 exit

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