Apr 01 2008

Today’s Trading Look-Back - April 1, 2008

Published by John at 5:25 pm under Trading After-Action

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Today was one of those days that can drive you completely nuts. I knew which way the bias was, but never got in because the market didn’t give me an entry point. The initial key reference levels were the 1342 point of control from last Wednesday and the 1336 point of control from last Thursday (not drawn).

S&P 500 Futures Price Distribution Chart for April 1, 2008

The market too right off from the get-go this morning and never looked back. I didn’t get a chance to buy and just watched it run away. It blew through all kinds of meaningful levels, only pausing for a little while around 1360, where things had stalled out this time last week.

For me there is nothing worse than having it right and not being in on the action - especially when that action is like 40 points!

Note to self - have a go with strategy for days like this.

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