Wednesday, November 23, 2011

Low volume = a lot of whipsaws

Typical low volume-lots of whipsaws pre-holiday trading day on the markets. I wasn't able to get any decent signals on the euro (again) and crude oil today but fortunately t-notes and natgas were there to compensate. As much as in the last couple of days I got hammered with bad t-notes trades, today it was the exact opposite as the Treasuries market was quite favorable to my trading style. Because of Thanksgiving tomorrow, the weekly EIA injection numbers for natural gas (normally on Thursdays) were released at noon today bringing with them instant high volatility on that market. I was fortunate enough to catch a ride on the way up, scalping some precious ticks all within a couple of minutes. Right after that markets started to hit the snooze button and I was done for the day. Net result +$289 trading 1 contract (commissions included). Details below.

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