Friday, 9 March 2012

Had a long at 20:34, filled at 2640.75.  Bit late in the day however there have been many late day rallies previously and I had a signal to buy.   I held on until 21:12, 3 minutes before the CME futures markets close, for a gain of 2 points.

Entry and exit

There was a story on RANsquawk that ISDA had effectively declared that Greece had indeed been through a credit event and therefore CDS would pay out and the market did nothing whatsoever, this was a situation where RAN seemed to get the news way ahead of the market.  I don't typically chase news stories but I did have a sell signal forming just prior to the sell off however I couldn't fully confirm it as a sell signal (there had also been several false alarms earlier in the day), by the time it was apparent as a sell signal it was too late.  The market only sold off a few points anyway, surprisingly.

Technical analysis of the NASDAQ today;

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