Joey's MP Journal

RTH High = 1256.00

5-day Overlay Point of Control = 1247.00

Daily Pivot Point = 1237.83

Daily Point of Control = 1229.75.

The first order I've entered is:

Sell at 1229.00
Stop at 1232.00
Target at 1225.00

It's a development of the overnight highs around yesterday's Point of Control.

A long way from the action currently, but in the context of Bernanke giving testimony, perahps not.

Sold at 1229.00
Stop at 1232.00
Exit at 1226.25
Gross p/l = +2.75

Have now entered the following order:

Sell at 1237.75
Stop at 1240.75
Target at 1233.75

This is the mean of a small balance area from yesterday confluent with the Daily Pivot Point.

Trade 1
Sold at 1229.00
Exit at 1226.25
Gross p/l = +2.75

Total = +2.75

Daily High = 1235.75

5-day Overlay Point of Control = 1232.25

Daily Point of Control = 1225.75

Daily Pivot Point = 1216.00

Bernanke is giving testimony at 9.00am and FOMC minutes out at 13.00pm.

A few trading ideas for today are:

1) Selling Yesterday's Point of Control
Sell at 1225.50
Stop at 1228.25
Target at 1221.50

2) Selling the Weekly Point of Control
Sell at 1232.00
Stop at 1234.25
Target at 1228.00

3) Selling Yesterday's Daily High
Sell at 1235.50
Stop at 1239.50
Target at 1231.50

I'll be halting trading for at least half an hour around the FOMC minutes.

I've entered the first order:

Sell at 1232.00
Stop at 1234.25
Target at 1228.00

The stop on this one is placed above the bottom of yesterday's Selling Tail.

The market has already tested yesterday's Point of Contol and had quite a bounce.

Sold at 1232.00
Stop at 1234.25
Target at 1228.00
Exit at 1233.00
Gross p/l = -1.00

Have now entered the order:

Sell at 1235.50
Stop at 1239.50
Target at 1231.50

If not filled by 12.45, will pull the order and wait until at least 30 minutes after the release of the FOMC minutes.