Tuesday, December 21, 2010

Monday wrap up

I got long yesterday on the TF at 777.1 as the market was showing some slight weakness. Unfortunately I couldn't stomach holding the trade as ticks were still trending negative at 10.30am so I exited at 778.3 for $120 per contract. No real edge in trading here today as the market holds the early morning gap. Ticks are trending lower though and other internals have come off the highs. Still any weakness is likely to be bought as that remains the layup trade for the last week so any short would basically be a 2-3 point trade with a great entry close to the high of the day. No real option trades either on the indexes as most of the holiday premium has been priced out.

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