Monday, January 3, 2011

Trade update

It's looking very much like a gap and go situation here. All the futures are up around 0.7% so don't be surprised if this turns out to be a nice trending day for the bulls. Personally I would be a buyer at 1260 on the ES here which corresponds to the R1 persons pivot. Earlier today I also sold the 128/131 Feb call spread on the ZB for 16" credit. Again, I'm looking to take this off for around 6" debit with the adjustment point at around 125. A nice little move since I put the trade on has me up nicely on the trade today.

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