Friday, February 22, 2013

No Adverse Changes the last Hour to Underlying Trade

It looks like yesterday's weekly Call positions in IWM and QQQ are worth about 33%, which isn't too far off the 1 pm fills of 31% and 29% respectively considering we ended higher, this is why I have such a low tolerance for loss of momentum, it's a loss of profits.

In any case, as far as holding the Call positions over the weekend, I don't see anything that disturbs me about that in 3C's last hour of trade, in fact the IWM, especially the QQQ's 15 min positive divergences added quite a bit to the upside. In futures, I'm not too concerned with the 1 min chart as it will change a lot from the weekend opening until the Monday 9:30 open, the 5 min NQ and ES charts though are a different story, they also both added to their leading positive positions.

As for Gold, even better...

 The 5 min leading added quite  bit toward the close...

As did the 30 min which is rare to see it move this much intraday, even the 60 min and 4 hour went positive.

I think we are in a great position to take advantage of short term movements and next week we should be in EXCELLENT position to enter new shorts, add to existing ones and basically be in the right spot at the right time as everyone else gets whipsawed in some extreme volatility!

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