Monday, May 03, 2010

Emini Futures Trading - Monday May 3, 2010

(QQQQ)(DIA)(SPY)

S&P 500 Emini Futures


Based on our Weekly Trading Zones published Sunday Night, the market presented numerous opportunities to capture a 2 point move during Monday's session. Price hit the 1192/1193 zone three times in the first hour of trading. Selling 1192 MIT with a 2 point stop and a 2 point target would have been profitable 3 times in the first hour. The third touch actually dropped 5 points. The fourth attempt which I was finally able to take... was stopped out. Not only was the trade stopped out for a 2 point loss, it opened the door for a long trade and the market moved 10 points higher to the next Weekly Trading Zone at 1201/1202. The advance was stopped dead in its tracks three times and again you could have been profitable on all three opportunities.

Pray Hard & Trade Safe!
CT

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