Again, this is why we love trading the Futures – this is just our overnight money but it also serves to lock in the gains we made on our hedges and now ( am) we're looking to play for a bounce off 2,600 on but, if they break down, we'll use the 2,600 line on the S&P for shorting so, either way – we are able to make fine adjustments to our portfolios on the fly.
Now that we're down 10%, we'll see how 2,550 holds up on the S&P () but we should get a nice 2% move higher as simply a weak bounce from here so we're targeting 2,600 as a weak bounce and 2,650 as a strong bounce and anything less than that is going to be a sign of further weakness.
That $6,205 profit is just what we made playing the bounce overnight on the Russell as I said to our Members at pm (yes, we work all night!
): ) Futures also did well, topping out all the way back at 24,100 with a stop-out at 24,000 for a gain of $3,500 per contract.
The third annual International Women and Girls in Science Day will be celebrated worldwide on Feb.
11 in order to recognize the achievements of women in science and to encourage girls to study science.
In the Futures, we tested 2,550 on Tuesday and our 30% line is 2,860 and 2,640 is 20% so, ignoring the spike below, we have a 220-point drop and our 5% Rule™ tells us to expect a 20% weak bounce off that fall (44 points) back to 2,684 and then the strong bounce line…