Thursday, August 18, 2011

Scalp on SPY - 18 Aug 2011

As mentioned in the previous DMA, I m bearish. After checking out the unemployment claim data

8:30amUSD
Core CPI m/m
0.2%
0.2%
0.3%
8:30amUSD
Unemployment Claims
408K
402K
399K
the index future start to tank. Even before that Dow mini future was already down by 80 points before market open. Plus marketwatch news on Gold breaking record high again to 1819. All these lead to me getting ready for a bearish entry.


15 minutes after market open, spotted an entry



A few minutes later suddenly there's a sudden surge in volume forming a big bearish candle and my trailstop triggered shortly after. Nice profit of $390 in 14 minutes =D

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