March 21st, 2012: YOYO and Ending Statement Trading Balance from Yesterday’s Trading

Hello Traders,

When I made up my mind not to trade today the market was not moving, even after the Crude Oil Inventory Report came out today.  The market looked like a Yo-Yo.  The upward movement that started and went up to 107.50 was not supported by any volume movement to speak of so I looked at the move as a manipulated move to the Long side.

March 21st 2012: 200 Trades Chart YOYO

In addition, we have Treasury Secretary Geithner, and Federal Chairman Bernanke testifying today on the European Debt Crisis.  As I look at today’s trading day, I have 2 of the 3 major players on the table playing their hands.  This is not a time for the small account trader to ante in.

As I was leaving for an appointment today, I noticed the market was perhaps,  Topping Out, with 2 HVS Spike Bars (blue) coming into the market.  I would be looking to short this trading opportunity, until I saw a HVS Spike Bar show up on the downward move to prove this move going down would be over.

These are my trading thoughts I had on today’s trading day, but I stood aside because of the reason above with 2 of the big 3 speaking today.  There is always tomorrow and with that another opportunity, and perhaps a better one to boot!!

Yesterday’s Trading Account Statement:

March 20th, 2012:  Trading Statement

 

Good Trading,

David ‘Tiger’ Knight

 

 

 

About The Author

David M. Knight

I am a 30 Year Futures and Commodities Trading Veteran. In addition, I enjoy games of skill and chance like: poker, craps, blackjack and roulette. During my professional career, I have developed and implemented successful trading strategies and methods; along with winning systems in games of skill and chance. Join with me on our mutual journey together.