Oh boy.. could the past week get any wilder? First, Lehman Brothers reportedly will be filing bankruptcy sometime in the next 12 hours due to failed talks between LEH and suitors. The Fed tried to broker a deal between LEH and Bank of America / Barclays, but talks fell through at the end due to [...]
This week should promise to be full of excitement as the FOMC meets Tuesday and Wednesday to decide the fate of the U.S. economy. Well perhaps not the fate, but they will decide on new interest rate policy. At this point, any further rate cuts will probably signal financial suicide, so expect the FOMC not [...]
Quick update on the crude front. Crude just hit $139.89 early this morning which may be the reason why futures have taken a large hit pre-market. Crude is currently trading at $138.35. I know Goldman and others were predicting crude to $150, but who knows. Maybe we’ll see $150 by the end of the week?
Okay.. someone explain to me what the heck just happened. Here’s a 1 minute chart of the Q’s.
Around 2:30 (yes, that 2:30 reversal period), the Qs and the rest of the market went right down the toilet. I think the bears were mocking the bulls and were loading up just to give them some false [...]
Overall, while still another loss, it wasn’t a bad day. Once again, however, tight stops on futures got the best of me. It’s a work in progress though. Once I refine my futures trading skills, I’ll be able to post more consistent profits. I did notice around lunch time trading in a zone somewhat. Remember [...]