Fellow Traders:

We had another profitable day in the TRADING ROOM.  I manually pulled the plug on the last short trade with 1 tick profit in the ROOM account and 2 ticks in my personal account.  I normally preach against such an emotionally motivated maneuver, but I was envisioning an Elliott Wave scenario in which the market would start moving up.  So, I justified my erroneous action based on “experience.”

But the market has a sense of humor and true to form it dropped like a stone within seconds of my exit.  My personal final score was $1,026.50, but in the ROOM we were still short of our Grand-A-Day GADGET goal by a hair, finishing with $914 when we closed at noon.

However, within a few minutes of closing the doors, I saw the market still wanted to go lower.  A couple of quick scalps on the short side put us over the top with $1,031.  And, remember all scores are a net of a $6 per contract transaction charge. Everyone have a great evening.  See you next time.

Today’s Charts

Here are today’s screen captures.  They may include my personal chart, the TRADING ROOM demo platform, charts submitted by students and/or my running intraday Elliott Wave count in the S&P Emini.  Please click on a chart to make it larger.