What a Ride!!! The NDX-100 opened higher rallying strongly to the 2945 level only to descent just as strongly all the way to 2910 at which point it rallied 20 points to 2928 closing 0.03% negative. Our strategy performed quite well today and we still prefer to short on spikes. Today we traded heavily as the volatility allowed us to take profits quickly. On the energy front oil rallied strongly on Egypts´ and Libia´s geopolitical concerns but do not believe those developments warrant such an increase in oil prices.
Today´s Profit USD 487 (Portfolio Size: USD 25,000)
Visit Past Trades to review our history.
- Crude Oil Fundamental Analysis July 3, 2013 Forecast (forextv.com)
- Oil Climbs: Egypt & Fear Premium (blogs.barrons.com)
- How to Spot a Relief Rally (dailyreckoning.com)