Today was a day for scalping the Russell 2000 E-mini. Objective was to get in quick and get out. We're still in the post-holiday volume, so I knew I should decrease my contract size to 5, instead of 10. Today's volume was approximately. 58,728 contracts traded, and the average daily volume 187,000 contracts according to CME.
I had a net gain of 3.58 points.
Nothing too exciting today. When I'm not trading in the Futures market I tend to take a glance at my old 50 stock trade screen I used to trade from each day, and I just think to myself, that is seems much easier to watch 1 chart, with MACD, Exponential Moving Average, and Stochastic.
Check out the panic selling in Telik, Inc. (Public, NASDAQ:TELK) down 70% today. Does this bother anyone to know that someone might have to 2nd mortgage their house to cover the losses in this stock for missing Phase III clinical trials on a lack of evidence to help cancer patients? Sheesh. I hope I never have to worry about a market I'm in, crashing 70% of my investment.
Also, I'm taking a 1 month test drive of Phil's Stock World & Options Recommendations. I've been reading his blog for quite some time now, and he's very knowledgeable, legit, and I love his market commentary. He had a average gain of around 80% gains in his realized option gains. He also had a 1400% winner in one option. I will keep an update of the progress and success I'm having with his website. It's $40 a month, and with winners like those, I couldn't refuse.
Can't Wait For the New Year & All that the Future Holds,
-CalTrader
