Dec 032010
 

Yesterday (Dec 2) was my first losing day in a few weeks.  I lost 3.75 pts on ES but I finished -$20 due to my profit from the Bund.  My bund performance has been much better than ES.  It makes me wonder what I’m doing wrong with ES or if ES is just more complicated.  I’ve been looking into equities for this reason.  ES has a lot of hedging & non-directional speculation and I think it’s harder to read.  I can’t quite put my finger on it but I’m studying it.

I took some shorts before the open and this is where my bias messed me up.  I was not expecting a breakout to the upside but once it came I was prepared to buy a pullback to 1211.75.  There was a discussion about this on Twitter and some mistakenly thought I had said one should have gotten long at 1211.75.  What I meant was that I was waiting for a pullback and wasn’t going to short the next CLVN.  That pullback never came and I didn’t take any more trades.

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