First Greece, Now Hungary, Next Meltdown??
5 min Emini Nasdaq 100
Hi,
How is it going lately? Market's extremely volatile and it is not easy to make money in this market.. We can really tell where the trend is going.. There appears to be no long term trend. Market has been climbing until late April.then all of a sudden we had the mystery of Dow dropping 10% ?? Just when we thought the markets are pleased with EU's bailout package, we have Hungary destroying it.
Market gapped down by around 40 points today, there is a weak attempt to close the gap, but failed... price then trended down very slowly.. I did not short immediately but waited until price cut down the opening price today.. this was accompanied by stochastics also cutting down the signal line.. I shorted 1 contract at 1854 and held my position all the way till the end as price did not cut up my upper trend line.. I exited only 1834 with profits $400.