Dairy Week 2 Day 1

The market gap up huge on the good news about the buyout for Greece. Then it sold off in the first hour. My friend suggested to long TZA at 33.60. The daily high for TZA is 34.44 something half hour later. This trade is too short and requiring excellent exit strategy. So I did not take it.

The market consolidate at the noon and down a little bit, then go up from 2:30pm. I should look at the 5 minute chart around 2pm when I saw the stochastic was at the bottom and started to crossover. That was a good good long entry. The index squeeze to the end of the close which makes the close really nice. I was thinking to long June 133 call for $2.32. At the close, the call is worth 2.72. It seems whenever I hesistate to enter a position, the decision is good. Whenever I rush to enter a position, the outcome is just opposite to what I wish. Gosh, too bad.

I have made some paper money from my paper trading account. Enter PPO put when PPO retrace back to 20SMA for a short position. Made some profit on it. Enter 100 UNG put at 0.41 when UNG touched 11.91 ( I was thinking it is forming a head shoulder formation, as 11.91 is the previous high for the right shoulder). Closed the 100 put for 0.46. Good gain for a day trade.

For the real money trade, I entered the long position for NUAN at 21.95. I hope I will have some gain tomorrow. Good luck.