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#FuturesTrades February 27th Tuesday 2007 Trade Log

#FuturesTrades is a private and free realtime trading posting chat room on the IRC Othernet server that allows traders from all over the world to communicate.

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In addition, trades posted by members of #FuturesTrades in the below trade post chat log are by traders that do not have access to TheStrategyLab.com strategies except for NihabaAshi.

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Further, you'll find below the chat room time stamped text log of realtime trades (real money and simulator) that were posted by full-time, part-time traders from around the world and the timestamp is eastern standard time (est).

Also, below NihabaAshi's trading blog like comments, you can read the time stamped trades (prices, entries, exits et cetera) and market discussions that sometimes contains trading tips or insights that are more useful than what you will see at any other futures blog or chat room.

Trading Blog Below is not your traditional trader's blog in the usual blog format. However, you will find informative commentary on a few occasions as time permits and such will contain trading tips that should help your trading as I attempt to sum up my thoughts for the trading day.

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ER2 EuroFX EC

+31.10 +0.0000

$3,110.00 $0.00

Geopolitical, Plunge in Durable Goods, Greenspan and Asia

Profit/Loss Statement

As a trader you must document trading days like today regardless if you had a profitable day or losing day because it will happen again and you need to be ready to exploit these trading days when they appear again.

The volatility that came with the sell-off had been building up since the New Year and finally showed its claws today and all I did was ride my winners longer than as planned and made sure my losers were much smaller than my winners.

My commentary below soon after the Open was about a failed counter-thrust as a bearish continuation signal.

In fact, the market made two failed attempts to rally upwards before 1045am est.

The most memorable price action occurred between 3:00pm - 3:16pm est because I saw price action I haven't seen in since post 911 and when the bubble burst a year earlier.

Once again, document today's price action and never forget it because when it occurs again (it will), you'll be better prepared to exploit it.

Key news of the day

Today's results (real money and simulator trading) shown above are that of NihabaAshi only. To see his total accumulated points for the month of February...click here. To see results for the months of 2007 and prior years...click here.

Commentary by M.A. Perry (a.k.a. NihabaAshi)
intradaystrategies@yahoo.com
Note: Each month there are a few trading days that we consider to involve interconnecting key price action of different markets and such is represented by a particular type of price action from one of the key markets. You can view the charts and their clues that's associated with the key price action at our key market archives.


#FuturesTrades purpose, benefits and access info...click here.

Session Start: Tue Feb 27 09:25:18 2007Session Ident: #futurestrades

* Now talking in #futurestrades 09:25

<X> [NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.htm

<eminitrader> yeah housing and consumer confidence...could give a nice entry to fade this move and be on the side of the downtrend

mean the news related 10 am move 09:26

<jperl> ER2 VWAP data: 09:27

yesterday: 824.56 09:28

1 week: 825.57

1 month: 812.59

1 year: 748.42

looks like we will open below the monthly VWAP

<NihabaAshi> A ton of bearish info caused the big down gap. 09:31

<ItalianSharp> asian market selloff, assassination attempt on Vice President Dick Cheney's, Greenspan's recession woes for 2007, and bad US econ news make up for a big correction...only thing that could possibly salvage today's snowballing effect is 10am news I guess

[15:25] * pdays has joined #futurestrades

<RussellDaytrade> Long ER2 @ 890.5 -> Add «« paper »» 09:32

<pat255> careful...

<NihabaAshi> Iraq VP almost got assassinated, U.S. VP Cheney had an attempt on his life by terrorists, former FED chairman Greenspan bearish commentary, today's plunge in durable goods et cetera.

Geopolitical events are the talk of the town in the overnight trading session and now. 09:33

Shorts ER2 @ 808.70 -> small size 09:34

I'm bearish but the gap down took away any decent entry points for a Short. 09:35

Thus, will keep it small size and until I see a failed counter-thrust to allow for a better Short entry.

Covered 2/3 ER2 Short @ 807.40 --> + 1.3 09:37

Covered Remainder ER2 Short @ 805.90 --> + 2.8 09:38

That trade and its reasons are an excellent example what "truly" are the LEADING INDICATORS... 09:39

Key Economic Reports, Regular Schedule Market Events, Geopolitical Events, FED & ECB Speeches, Other Key Markets et cetera. 09:40

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<RussellDaytrade> Long ER2 @ 806.9 -> Add «« paper »» 09:42

<asuni> test 09:56

<X> #FuturesTrades Info -> Chat room for realtime trade posting by traders of Emini Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, QQQQ, SPY) 09:59

<szubaark> Shorts NQ @ 1807.50 «« paper »» 10:00

<RussellDaytrade> Exited 1/4 ER2 Long @ 811 --> + 4.1 «« paper »»

Exited 1/4 ER2 Long @ 811.5 --> - 1.7 «« paper »»

<szubaark> Covered all Short NQ at 1810.50 --> - 3 «« paper »»

Buys NQ @ 1810.50 «« paper »»

<RussellDaytrade> Exited 1/4 ER2 Long @ 811.8 --> - 1.4 «« paper »» 10:01

<eminitrader> Shorts ES @ 1438.75

<RussellDaytrade> Exited all ER2 Long @ 812.4 --> - 0.8 «« paper »»

ap was 810.6 on 4

<NihabaAshi> Nice counter-thrust... 10:02

<RussellDaytrade> net profitable

<NihabaAshi> I'm now keeping my eye open for any bearish signs that it may fail.

<RussellDaytrade> thx Niha, got lucky again, after being initially unlucky / early. i am still bearish bigger picture, feel this mkt today had just turned the corner down. 10:03

<szubaark> Exited all Long NQ at 1807.25 --> - 3.25 «« paper »»

Shorts NQ @ 1807.25 «« paper »»

<NihabaAshi> Shorts ER2 @ 811.70 -> small size 10:04

<szubaark> staying with this Short.. let them shake me out twice already :((

<NihabaAshi> Covered 2/3 ER2 Short @ 810.40 --> + 1.3 10:05

<eminitrader> Covered 1/2 ES Short @ 1435.25 --> + 3.5 10:06

<NihabaAshi> Covered Remainder ER2 Short @ 809.70 --> + 2

Shorts ER2 @ 810.50 -> small size 10:07

Sorry...

That's a Long

<RussellDaytrade> Long ER2 @ 809.4 «« paper »»

<NihabaAshi> One contract only

<RussellDaytrade> Exited all ER2 Long @ 809.3 --> - 0.1 «« paper »» 10:08

<eminitrader> Covered 1/3 ES Short @ 1435.75 --> + 3

<NihabaAshi> Long ER2 @ 810.50 -> small size

Exited ER2 Long @ 811.10 --> + 0.6 10:10

<eminitrader> Covered Remainder ES Short @ 1437.25 --> + 1.5 10:12

Shorts ES @ 1436.75 10:15

Covered 1/2 ES Short @ 1435.25 --> + 1.5 10:16

<NihabaAshi> The 10am est key economic report produced some good volatility. 10:17

<eminitrader> gave some nice entries :)) 10:18

<szubaark> also some good whipsaws

<NihabaAshi> Shorts ER2 @ 810.50 -> large size

<eminitrader> [09:26] <eminitrader> yeah housing and consumer confidence...could give a nice entry to fade this move and be on the side of the downtrend 10:19

<szubaark> I was "impulsive" and jumped on 2 trades and paid price

<NihabaAshi> Covered 2/3 ER2 Short @ 809.80 --> + 0.7

Covered Remainder ER2 Short @ 810.00 --> + 0.5

<eminitrader> Covered 1/3 ES Short @ 1434.75 --> + 2 10:20

<NihabaAshi> I got my profit target for the day...

I'm now officially in profit protection mode.

<pat255> vn guys ...too fast for me ..

<NihabaAshi> 1-2 contract only for the remainder of the trading day.

<RussellDaytrade> i have a big target of 818, this morning. 10:21

<NihabaAshi> Long ER2 @ 811.00 -> small size

<RussellDaytrade> doesn't necessarily mean it'll occur, but i am expecting it to. 10:22

<NihabaAshi> It's a rodeo ride :)

Exited ER2 Long @ 810.10 --> - 0.9 10:23

Reverse and Enter Short ER2 @ 810.10

:( 10:24

Covered all ER2 Short @ 810.40 --> - 0.3 10:26

<RussellDaytrade> Long ER2 @ 810.5 «« paper »» 10:29

<NihabaAshi> ER2 volatility now dropping fast... 10:30

I'm expecting a volatilty spike.

<eminitrader> Covered Remainder ES Short @ 1436.75 --> 0

<NihabaAshi> Long ER2 @ 811.60 -> small size

<RussellDaytrade> i project that 818 to ocuur by 11: 58 et

stop at be 10:31

<NihabaAshi> Exited 1/2 ER2 Long @ 812.00 --> + 0.4

Holding 1 contract

Exited Remainder ER2 Long @ 812.70 --> + 1.1

<eminitrader> Shorts ES @ 1437.50 10:32

<NihabaAshi> Feels like an "Bar Brawl". 10:36

Punches and Chairs flying every where :)

<eminitrader> :))

<RussellDaytrade> anybody recall that Geraldo show when a guy threw a chair and hit geraldo on the nose with it? 10:38

<NihabaAshi> Yep...my mom was recording it on her VCR when it happened :)

<RussellDaytrade> i just happened to be watching it, i thought Geraldo was gonna rip him, he took the shot and turned the cheek. 10:39

<eminitrader> Covered 1/2 ES Short @ 1437 --> + 0.5

exit stop lowered ES @ 1438 10:40

<jperl> ER2 constantly bouncing off the monthly VWAP 812.59

<eminitrader> Shorts ES @ 1436.50 -> Add 10:41

<NihabaAshi> ER2 volatility dropping fast again... 10:42

I'm expecting a volatility spike here soon.

<jperl> Here's a 2 minute chart showing the bounces.... 10:43

http://charts.dacharts.com/2007-02-27/JP ERL_017.png

<RussellDaytrade> stop raised to 811

<NihabaAshi> Thanks jperl

<jperl> yw

<eminitrader> cacelled stop ..@ 1438

Shorts ES @ 1437.50 -> Add 10:44

<RussellDaytrade> buy limit to enter long ER2 @ 817 «« paper »» 10:45

<eminitrader> looks like ES and NQ are perfectly aligned now for continuing the trend 10:48

unless the mrkt goes into a chop ....hope not 10:49

<RussellDaytrade> Exited all ER2 Long @ 811.6 --> - 5.4 «« paper »»

thats a plus 1.1 10:50

cancelled all open stop orders «« paper »»

Long ER2 @ 810 «« paper »» 10:57

<eminitrader> Covered 1/3 ES Short @ 1456.50 --> - 19

oops

Covered 1/3 ES Short @ 1435.50 --> + 2

<RussellDaytrade> gonna let it bob in the surf, and see if the tide brings it in. 10:58

up 500 for day. stop at 805, won 't add, will only close for either a gain or a loss. 10:59

<eminitrader> Covered 1/3 ES Short @ 1434 --> + 3.5 11:00

<pat255> wtg em ...

<RussellDaytrade> actaully up 1400 including that o/n hold

<eminitrader> thx pat

exit stop moved to breakeven ES @ 1437.25 11:01

stop back now in place at avg price

<RussellDaytrade> dow new lows, er holding higher, a little positive, but er had over-reacted to begin with, so likely striill follow dow

<szubaark> ES new lows of day.. 11:02

I stopped watching ER and YM charts as i felt it distracted me from trading NQ as i was looking at too many things 11:04

<NihabaAshi> Has it helped when you stopped watching other markets ?? 11:05

<szubaark> yes.. Im making less trades already 11:06

as an amateur i need to keep it simple.. One Market, One Timeframe 11:07

Being Impulsive continues to be my problem (it happens less and less as im gaining experience) 11:08

Out of the Blue Ill just say "lets go Short here" without waiting for more conformation

<eminitrader> used to happen a lot to me szu.. 11:09

and then that wld prolly result in a loser so revenge trades come in ...and on goes the cycle

took a long time for me to understand i dont have to be in the mrkt all the time to make money 11:10

well i do that even now sometimes... 11:11

<X> #FuturesTrades Info -> Chat room for realtime trade posting by traders of Emini Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, QQQQ, SPY)

* codehead_afk is now known as codehead 11:20

<szubaark> any push down on Volatility Ill exit my Short 11:21

emini and Niha nice trading with the trend

<jperl> done for the morning....here are the trades.... 11:22

http://charts.dacharts.com/2007-02-27/JP ERL_018.png

<szubaark> nice jperl

<jperl> an ok morning 11:23

<RussellDaytrade> better'n a sharp poke in the eye.

<szubaark> hehe.. 4second trade

<jperl> that first one was a mistake....

I accidentally hit the order button and bailed immediately 11:24

<szubaark> Limit to Cover Short NQ @ 1800 «« paper »»

Covered all Short NQ at 1802.25 --> + 5 «« paper »» 11:27

* szubaark is now known as szubaark_away

<szubaark_away> they teasing around the 1800 area

<RussellDaytrade> Exited all ER2 Long @ 810.7 --> + 0.7 «« paper »» 11:41

looking to buy it back, if drops a little, still think it goes higher, but that buy was too early relative to price. :) 11:42

Long ER2 @ 810 «« paper »» 11:44

<eminitrader> Covered 1/3 ES Short @ 1431.25 --> + 6.25 12:01

holding 1

<RussellDaytrade> the short side is paying well again today. 12:02

<eminitrader> made all my money on the short side for the last 4 days 12:03

<pat255> back ...vn em ...wtg ...man i hesitate with this drop & did not take S.. 12:04

<RussellDaytrade> yes, sell and wait, sell and wait, sell and wait.

<eminitrader> well ur time will come pat ..not to worry 12:05

<pat255> well learning & follow the trdaes & look at the setups ..

am did not reverse niha did & got in touble ... 12:06

<eminitrader> did that yest...and lost 3 pts on a large move...waiing for a re-entry 12:08

Covered Remainder ES Short @ 1428.50 --> + 9 12:11

<pat255> vvn

<eminitrader> thtas atenner ...finally been a while

<RussellDaytrade> wow!

<eminitrader> thx pat RD 12:12

<RussellDaytrade> drinks all around!

<eminitrader> :)) 12:13

yeah very good month ..in terms of profits...

<X> #FuturesTrades Info -> Chat room for realtime trade posting by traders of Emini Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, QQQQ, SPY) 12:23

<eminitrader> Long ES @ 1428.50 12:26

3 only

will add in the 27 area if it gets there 12:27

* WannaBeBOS is now known as WannaBeRonJeremy 12:33

* WannaBeRonJeremy is now known as WannaBeBOS 12:35

<NihabaAshi> :)

<eminitrader> Exited 2/3 ES Long @ 1430 --> + 1.5 12:37

yeah niha ..time to make up the commissions 12:38

Exited Remainder ES Long @ 1429 --> + 0.5 12:43

<NihabaAshi> Yep, time to make up the commissions and to get the overall position size average down to an acceptable level :) 12:55

<eminitrader> we dont get moves like these everyday :) 12:56

<NihabaAshi> Agree

<eminitrader> meaning starting the day with clear trends

<NihabaAshi> Shorts ER2 @ 808.20 -> small size 12:57

<eminitrader> although we missed most o/n there was still a lot of monies to be made

<NihabaAshi> Covered all ER2 Short @ 807.70 --> + 0.5 12:58

<pat255> nice quick trade ..

<eminitrader> looks like niha wants to make up for the the commissions too 12:59

<pat255> man i gotta learn to reverse quick... 13:00

S 807.9 papaer 13:04

<eminitrader> Long ES @ 1428.50 13:08

3 only

Exited all ES Long @ 1428 --> - 0.5 13:11

<pat255> em nice quick stop...i need to elarn that ...& nt look for hope

<NihabaAshi> Shorts ER2 @ 805.70 -> small size 13:12

1 contract only

<eminitrader> specially when ur in a ct trade

<pat255> yes..

<NihabaAshi> Shorts ER2 @ 805.90 -> Add 13:13

<RussellDaytrade> Exited all ER2 Long @ 805 --> - 5 «« paper »»

<NihabaAshi> Covered 1/2 ER2 Short @ 805.00 --> + 0.9

Big time stop runner

Covered Remainder ER2 Short @ 805.80 --> - 0.1 13:14

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<RussellDaytrade> i traded that whole thing all goofy 13:15

<NihabaAshi> Long ER2 @ 805.60 -> small size 13:16

I got a great entry on that Long...hopefully I can get my target before they try a stop runner.

<RussellDaytrade> Long ER2 @ 805.8 «« paper »» 13:17

<NihabaAshi> Exited ER2 Long @ 806.10 --> + 0.5 13:19

<RussellDaytrade> Long ER2 @ 806.1 -> Add «« paper »» 13:22

Long ER2 @ 806.3 -> Add «« paper »» 13:23

Exited 1/3 ER2 Long @ 806.7 --> + 0.4 «« paper »»

Long ER2 @ 804.2 -> Add «« paper »» 13:30

will add 803.5 13:31

ap 805.36 on 3 13:32

looking for 807 13:33

in 45

<werner> hello all 13:35

<X> #FuturesTrades Info -> Chat room for realtime trade posting by traders of Emini Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, QQQQ, SPY)

<NihabaAshi> Long ER2 @ 804.30 -> small size 13:37

Early entry...high risk.

Exited ER2 Long @ 804.00 --> - 0.3 13:39

Reverse and Enter Short ER2 @ 804.00

Trade execution error :(

May get a lucky exit out of a Short I didn't wanted when I wanted to ADD at 804.00

<RussellDaytrade> Long ER2 @ 803.5 -> Add «« paper »» 13:40

<NihabaAshi> Covered ER2 Short @ 803.50 --> + 0.5

:)

<RussellDaytrade> 4 at ap 804.9 13:41

<NihabaAshi> I slapped my spouse on the butt when she walked by during that trade...

It's the only reason why I got a lucky exit :)

<pat255> :) 13:42

<werner> lol

<RussellDaytrade> anyone here good at adding on a rising scale? if so, jump on in.

<NihabaAshi> Long ER2 @ 804.00 -> small size 13:44

Exited ER2 Long @ 803.00 --> - 1 13:45

Stop runner nailed me.

<pat255> just keep going South

<RussellDaytrade> Long ER2 @ 802.6 -> Add «« paper »» 13:46

<NihabaAshi> Long ER2 @ 802.90 -> small size

<RussellDaytrade> long 5, thats my current limit 13:47

<NihabaAshi> :(

<RussellDaytrade> now looking for 806.2 13:49

and if that low holds longer term, may be higher targets 13:50

5 at ap 804.44

<NihabaAshi> Exited ER2 Long @ 804.10 --> + 1.2 13:52

Another rodeo ride...got nailed going DOWN and got back on her going UP.

<codehead> long YM 12437

<RussellDaytrade> secondary entry long here 13:54

t = 810.8 minimum 13:56

first t = 806.2 13:57

now will someone please inform the floor traders of this 13:58

<NihabaAshi> Geeesh...I no someone that's been adding to his YM Long position since the 12580 price area. 14:05

no = know

:(

He obviously has a higher pain threshold than me. 14:06

<RussellDaytrade> this is the true payoff day for all that short anguish of the past week.

at least the bears are finally flexing their muscles a little bit. 14:11

<NihabaAshi> We don't see many trading days like this... 14:14

<RussellDaytrade> just hinking the same.

<NihabaAshi> In which there's a strong GAP DOWN and then further declines on a lot of downside pressure after a failed counter-thrust. 14:15

<RussellDaytrade> was wondering in my mind if this was the norm, and could one become accustomed to it?

defientely feels like a key reversal type day.

and then soem! 14:16

<NihabaAshi> ER2 has made some nice gains since late January and I think those big position traders are panicking a little and exiting a lot of their positions to salvage what's left of their profits. 14:17

<pat255> looks like .just ugly

wonder what the mutual funds will do...

<RussellDaytrade> agree. also, i view this day (and days like this) preceeding the expirations, as neccessary, and expected, for much the same reasons, ie, balancing the equations. 14:18

<NihabaAshi> ER2 currently in the middle of a key s/r zone with the low of that zone @ 798.90

<RussellDaytrade> i expect the same to occur in revervse now, hopefully from near these levels. 14:19

<NihabaAshi> Largest one-day Nasdaq decline since 2001... 14:22

Is that true???

Geeesh.

<RussellDaytrade> in memeory oh good ole Jed Clampett, i say, 'weee doggie!. 14:25

<NihabaAshi> Tough trading day for another trader elsewhere... 14:27

[14:26] * `zig sells ym 12370 to 12365 -120 to -75 from 12490 to 12450 longs

<GoodMood> panic all around ...

<NihabaAshi> He still has more to sell :(

Long ER2 @ 799.00 -> small size 14:28

<ItalianSharp> niha, do you think this selloff will have some follow-thru in hte comin days? 14:29

<NihabaAshi> Exited all ER2 Long @ 797.80 --> - 1.2 14:30

Italian...I'm not sure.

<RussellDaytrade> feeding on itself now.

<NihabaAshi> I'll have a better ideal when I go over the charts tonight.

<ItalianSharp> there definetely is a lot of support between 800 and 775 14:31

<NihabaAshi> Long ER2 @ 797.80 -> small size 14:32

<RussellDaytrade> i was reviewing ranges in the nas a while back, from days in 2000, as i recall, there were some 300 point days in there. 14:33

up targets now

(some) shorts are gonna wanna close and book., could move up several on iyt.

may be a good add on a rising scale 14:34

<NihabaAshi> Exited all ER2 Long @ 799.60 --> + 1.8 14:36

Another rodeo ride down and back up.

* Retrieving #futurestrades modes... 14:37

<RussellDaytrade> greenspan is ging to be impossible now, (his utterance rates will go up now, wouldn't be surprised if he 'earned' more from those statements then he used to earn all year0

retest now 14:38

implies successful retest

Long ER2 @ 799.2 -> Add «« paper »» 14:39

Long ER2 @ 799.3 -> Add «« paper »»

Long ER2 @ 799.4 -> Add «« paper »»

Long ER2 @ 799.5 -> Add «« paper »» 14:41

Long ER2 @ 799.6 -> Add «« paper »»

<wizardofrijnsaterwou> yy indeed 14:42

long fdax 6707

<RussellDaytrade> not used to buying on that side of the valley 14:47

<X> #FuturesTrades Info -> Chat room for realtime trade posting by traders of Emini Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, QQQQ, SPY)

<wizardofrijnsaterwou> lol

<NihabaAshi> I'm starting to get mixed messages in my Market Breadth info...symptom of a market that's temporarily LOST. 14:48

<RussellDaytrade> i can feel george soros selling into the hole. 14:49

thats his style

<NihabaAshi> Another hot knife slicing below into new intraday lows. 14:52

<ItalianSharp> today could be recorded as one of the biggest drops EVER

we are making history fellas...

<RussellDaytrade> point-wise, not pct.

<ItalianSharp> maybe 20 years from now, our kids will study today at the university... 14:53

well, i dont have kids...maybe niha's kids

<RussellDaytrade> all that geopolitical issues coming home to roost.

<eminitrader> man o man 50 pt move on the ES...nver scene it in all my yrs of trading 14:54

<RussellDaytrade> 10 pct circuitbreaker is frist limit.

<eminitrader> niha ...can u recall the last time u saw moves like these ? 14:55

<RussellDaytrade> march 2000 14:56

<NihabaAshi> Yes...when the bubble burst.

<eminitrader> k..first time for me

<NihabaAshi> We must be near those single day loss levels...for a record since 2000.

<ItalianSharp> march 2000 i was still a pro athlete knowing squat about the markets...not that i know much more now anyways...lol 14:57

<eminitrader> looks like it

<NihabaAshi> I know that Nasdaq has set a new record since 2001.

<eminitrader> 93 pts down on the nasdaq today

<NihabaAshi> ItalianSharp...in 2000 I remember CNBC interviewing kids and getting their stock picks :) 14:58

<ItalianSharp> i guess the "averaging down" strategy hasn't worked well today for the bulls...ouch

<NihabaAshi> Meant 1998 - 2000

<ItalianSharp> Niha, maybe i was one of those kids...:P 14:59

<NihabaAshi> :)

Rarely do I have a trade that runs my initial stop/loss before I can react and reverse into the price direction. 15:00

<eminitrader> dow showing 460 pt drop ...anyoneelse see that

<RussellDaytrade> maria is blowing on the fire

<NihabaAshi> I had two such trades today for losses.

<eminitrader> baad print or true 490 now 15:01

<NihabaAshi> I know there's bearish news (geopolitical) in the market...

<RussellDaytrade> some of the fastest money i've made was trading bounces in spring 2000

<NihabaAshi> This spike is acting like there's "BREAKING NEWS"...

Anybody see any breaking news reports ???

<pat255> nope .. 15:02

<NihabaAshi> Shorts ER2 @ 791.30 -> small size 15:03

Something is going on that's now hitting the markets.

Making things worst....

<RussellDaytrade> that last plunge was it for today

<NihabaAshi> If its news related...this thing should bounce back upwards and that's what I'm gambling on that its news related that last volatility spike downwards. 15:04

I didn't catch the volatility bounce back at a higher price but so far it looks good enough. 15:05

Covered ER2 Short @ 791.20 --> + 0.1 15:06

:(

Long ER2 @ 792.10 -> small size 15:07

Lets see if I can ride it up now if this if that spike down was the result of "breaking news". 15:08

Trying to short it didn't work to well :( 15:09

Exited ER2 Long @ 792.90 --> + 0.8

Geesh...rodeo ride but this time it I got bucked before the ride completed. 15:10

<RussellDaytrade> nice volume in teh er today. 15:11

cleanout trade prior to ex.

<NihabaAshi> Long ER2 @ 796.10 -> small size

Exited ER2 Long @ 795.00 --> - 1.1 15:13

Long ER2 @ 795.10 -> medium size 15:17

2 contracts

Not a medium size position.

Exited 1/2 ER2 Long @ 796.50 --> + 1.4

Exited Remainder ER2 Long @ 798.50 --> + 3.4 15:22

Wow...that's one heck of a V-Thrust or dead cat bounce.

<RussellDaytrade> just starting, more to go up. 15:23

sees 805 today

goiong from a long panic to a short panic, all in one day

<NihabaAshi> Volatility dropping again...expecting another volatility spike soon. 15:24

<RussellDaytrade> lows = been ther, done that

<NihabaAshi> Shorts ER2 @ 797.30 -> small size 15:26

Shorts ER2 @ 797.20 -> Add 15:29

Total of 3 contracts with an extra contract as a position size error...

Last trade of the day because that's 2 trade errors in one day. 15:30

Covered 1/3 ER2 Short @ 796.30 --> + 0.9

Covered 1/3 ER2 Short @ 795.70 --> + 1.6 15:31

Covered Remainder ER2 Short @ 794.80 --> + 2.5 15:32

<pat255> vn niha ... 15:33

Sponsor:
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<NihabaAshi> That ADD of the extra contract spooked me a little...

My eyes must be tired because at first I saw 30 and I blinked twice and saw 3.

:( 15:34

Time to call it a day when I'm having "hallucinations".

:)

Crazy trading day.

<RussellDaytrade> volatility spike up coming?? 15:35

<NihabaAshi> ER2 volatility is dropping now...expecting a volatility spike soon. 15:37

<pat255> later guys ty all.. 15:49

<RussellDaytrade> at lows, er was down 4.45 % from yes close. 15:56

<X> #FuturesTrades Info -> Chat room for realtime trade posting by traders of Emini Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, QQQQ, SPY) 15:59

<RussellDaytrade> weee doggie 16:04

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