Emini Trading Blog

Posts Tagged ‘Commerce Dept.’

So, how did our fictitious aggressive trader “Bob” fare? Quite nicely on this trending day. Very near the close he moved his stop up to 1005.00 which was reached just before 16:15. Gain of five points ($250) on the final contract means he finished the day with a gain of $2150 (21.50% of 10,000 equity), less commissions on eight contracts.

This shows how great an impact matching the style of your trading to the behavior of the market can have on your profitability! Certainly the right day to trade for the bigger move. Bob feels more than satisfied at first. But then, he starts to feel uncontrollably excited about tomorrow. Will he be able to hold on to all he has earned? Tomorrow we will see!

In the way of known news announcements that could move the markets, the National Association of Realtors will release their Existing Home Sales report in the morning at approximately 10:00, EDT. Earlier this week, the U.S. Commerce Dept. reported an unexpected drop in Building Permit applications. However, in view of the deep plunge in real property values, perhaps the forecast 5.1 figure will be realized. Even if it isn’t, it seems the current state of the market could overpower a slight miss. After today’s push higher (beware of lighter and lighter volume), despite further unemployment pressure and corporate warnings (see: Sears), a retest of the 1016 highs seen last week appears to be the only cap in sight.