Trading Diary & Market Update ~ Wednesday 11th December 2013
09:10am ~ I was not able to report on my evening trading on here late night as I closed off my last trade of the session a few minutes before 8pm and then went straight out for a very late evening playing poker. I ended up having two trades using my “Trade With A Day Job” strategy during yesterday’s evening session, the first one (at 5:30pm) was stopped out at minus 9 pips and the second was closed off at +7 pips. This means my total for the day ended at +130 pips and I’ve managed +562 pips for December so far.
Yesterday the S&P500 seemed to have reached its high for the time being, the resistance level at 1815 is still intact – and with the threat of tapering becoming a reality quite soon, it does seem we’re going to have more downside for the rest of the week. The reaction of bond markets and the US dollar over the past few days would appear to suggest that markets seem quite comfortable with the prospect of Fed kicking off their tapering and it certainly appears that a window of opportunity could be opening up for the Federal Reserve to act next week without any kind of sharp market reaction, the only question remaining is will they get on with it before the Christmas break ?
If you were following my trades yesterday you’ll know that Gold carried on it’s march upwards after hitting the $1210 support level a few times last week, it ended the day $21 up at $1262 with resistance on the daily chart at $1265.
After spending most of yesterday in doors watching charts I am going to be more outdoors today with a cycle ride this morning plus some clay-pigeon shooting later this afternoon although I have a couple of Skype calls and some emails to attend to before lunch.
18:30pm ~ I’ve been outside for most of the day but I did manage to sit down here in the kitchen with this laptop to watch my S&P500 chart at 5 o’clock – and I ended up having two trades with my “Trade With A Day Job” strategy. The first one just before 6pm was stopped out at minus 11 pips and the second one (which I’ve just come out of) gave me +11 pips so I have ended the evening flat.
Daily Target Reached ? NO (zero pips) I just traded for 90 minutes this evening.