Testy Tuesday – Looking for a Market Bounce

Wheeee – that was fun! As you can see, we made great money on our Russell ( /RTY ) Futures shorts on the way down ($5,410) and, this morning, I sent our a special alert to our Members at 6:30 am , saying about the Dow ( /YM ) Futures: We failed at 28,200 and back to 28,000 on  /YM , which is playable for a bounce but super-tight stops below.  Lined up with 3,220 on  /ES , 9,100 on  /NQ  and 1,630 on  /RTY  – I'd make sure 2 are over at least and get out if there are any failures at all (in other words, the others should cross over shortly, not fail). We're hoping to catch a strong bounce up to the 28,280 line and that would be good for $1,400 per contract but once we're over $1,000 we should put a very tight stop on half our contracts and then stop out the rest at $750 to lock in average gains of $875.  If we do fail at the weak bounce line – look out below!  Once we're over the weak bounce line – that becomes our stop.   IN PROGRESS    

Wheeee – that was fun!

As you can see, we made great money on our Russell (/RTY) Futures shorts on the way down ($5,410) and, this morning, I sent our a special alert to our Members at 6:30 am, saying about the Dow (/YM) Futures:

We failed at 28,200 and back to 28,000 on /YM, which is playable for a bounce but super-tight stops below.  Lined up with 3,220 on /ES, 9,100 on /NQ and 1,630 on /RTY – I'd make sure 2 are over at least and get out if there are any failures at all (in other words, the others should cross over shortly, not fail).

We're hoping to catch a strong bounce up to the 28,280 line and that would be good for $1,400 per contract but once we're over $1,000 we should put a very tight stop on half our contracts and then stop out the rest at $750 to lock in average gains of $875.  If we do fail at the weak bounce line – look out below!  Once we're over the weak bounce line – that becomes our stop.

 

IN PROGRESS

 

 

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