Wednesday, January 21, 2004
Overnight my short Euro was stopped out for a loss. Went short again this morning around 05:00 and took it off just now for a small loss. I'm thinking we're right up on retracement resistance but I can't read the chart clearly so I'm out.
Sucked the Bean Oil stop down to 29.47 and got tagged and filled at 29.52. That's way too much slippage for the grains. They're getting as rough as New York for God's sakes. What a joke. I'll wager right now that proves to be the high tick of the day. A whopping 175. bucks. Oh well...it's a profit and although leaving the same amount on the table, it's good management to protect those profits.
Took coffee off as we approached the close and a sell off. Out at 74.60 after the nice run up from my entry of 70.15. Looking like some consolidation is in order. This is a long term campaign. I'd like to just leave it alone but you know, with a small account, despite increasing risk by re-entering repeatedly, the charts are just too rough to absorb the swings without locking in some equity.