Friday, May 15, 2009

(only read this post technical error)OPEX/CPI/DOLLAR FRIDAY WE Move To The July Contract


I am typing fast I know many stressed traders don't want to do this but sometimes less is more
It is okay to lay out when in doubt we are well above our weekly profit goals with some big trading days this week and there are just too many surprises hiding in the corners to make this a risk free experience. It is an OPEX day and that has multiple outcomes often-We  move on Friday to the July Contract and attempt to decipher some of the new month's subtleties. The dollar getting hit but is at a key technical level and the market itself is unsteady. Tight stops  yesterday you could get away with .15 cents and still be effective.   We  are preparing entry points for members-check your emails shortly CPI due at 8:30 inflation is a player on the over market and commodities sentiment as well.
Members do not be afraid to take profits quickly today.