by Gavin M.
At this point I will not bother talking about Greece as that is a foregone conclusion. They will exit otherwise, accept the harsher deal to be given to them this weekend. Yesterday as we had a nice V-shaped bounce for no apparent reason, it was one of those instances where you had to take a trade because it just seemed logical to be selling after such an extreme up-move.
Obviously this trade could've easily gone wrong had the evil-doers decided to push us higher for no reason at all. However, that is why stop limits were invented, to ensure that you do not get crushed too severely. Sometimes the market gods can be kind to you by giving you a trade like this that is without a doubt perfection. There were no stop hunts at the short near 2076 which really made the trade just that magnificent.
A few clients took the trade with me. My only regret is I did not sell enough ES contracts but I made enough to net $1,200 per contract. So I am sure that for at least today, Wednesday, I avoid having to apply for an EBT card.
This was not the only trade that we called out that made clients money. A few in stocks and in forex also yielded good results. The only thing you should ask yourself is, why aren't you with us?
Traders from Equity Sense will be writing on this blog on positions and other market-related things.