Sunday, May 3, 2009

June contract 53.40


Maybe we got caught up in Warren Buffet's positive take on the financial stress test as Members  were advised to buy Sunday night opening. We bought the opening but if you are like me you ended up 52.65 somehow even though it opened at 52.62 I don't know if the three cents are worth disputing as the orders should have placed prior to the Sunday Globex opening. 
Adjust stop to 53.16(protect $500 even after commissions) it traded as high as 53.60 but I expect some resistance at the 54.25 and check emails as we may reverse position in that region. Futures are up but so slightly and systemically commodities are up nearly across the board. Euro looks strong as of now with talks of 120 billion currency pool and Chinese manufacturing numbers.  H1N1 as it is now called has been called has been deemed mild so far here in the US-Mexico has a different take on the severity of this would be pandemic.
 If you are unsure of how to employ stop orders email me at chrgr06@yahoo.com
They are essential to the success of this system as they both limit liability and systematically force us to take profits.