It was fun while it lasted!
I've got a midday lunch meeting but I wanted to throw out a quick post before I jump into the conference room. First, we've spoken about the importance of NDX 1050 (first support) and SHOCKER traders had placed stops right below that level. Sure enough, as they were elected, the slippage picked up it's pace.
Also, note that the dollar has reversed and is now lower on the day and that's starting to get loud. Finally, the BKX got close (but no Monica) to my "stop out" point but it wasn't elected--so I'm still dancing with Boo and monitoring my tells for signs of a shifting win. At a point, I'll look to once again roll down my stop--which would lock in a meatier gain. Defined risk and open reward? That's trading nirvana!
More importantly, I want to send my heartfelt good vibes to GR's dad on his surgery tomorrow. Think positive!
Todd Harrison is the founder and Chief Executive Officer of Minyanville. Prior to his current role, Mr. Harrison was President and head trader at a $400 million dollar New York-based hedge fund. Todd welcomes your comments and/or feedback at firstname.lastname@example.org.
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