Overnight Success

By -

I'm starting to like this market as much as I detested it just weeks ago. Things are starting to feel tradeable again.

Last night was a good example. I spent the day loading myself to the teeth with new short positions. Afterward, instead of hedging myself, I thought there was an opportunity to make even more with an overnight /ES position, since there seemed to be a very clean line of resistance at about 990, so I shorted 21 /ES at 988. How pleased I was to amble downstairs this morning and see the area tinted in blue:

0819-es

I lightened up by 8 contracts but otherwise am holding fast. We are, I would mention, entering kind of an interesting zone at this point. Take note of the prior tinted area, as well as the current one.

0819-estwo

Good luck today! The opening bell just rang, and I'm up over 1.2% on the bottom line right from the get-go, so this could be another good one.

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