We were having a discussion in our Live Member Chat Room this morning about why we were staying short-term bearish despite the low-volume rally of the last few days when the market began to spike higher, so I immediately put out a note to our Members saying:
Wow, Futures flying straight up now, about 0.3% the other way now – nice morning swing. /NQ testing 4,400 for a fun short with tight stops and /ES 2,099.50 and /YM 18,030 (no short above 18,000) and /TF 1,230. As long as /TF and either /ES or /NQ are below their lines – I'm for shorting any of those 3.
Of course that's nothing compared to the Trade Idea we gave you yesterday morning (and these newsletters come to you pre-market, every day by SUBSCRIBING HERE) to short Oil Futures (/CLJ5) at $53.50, which are up $3,000 PER CONTRACT this morning at $50.50. That's not bad for a day's work and it keeps our hourly profit rate well over $500 for the day (we had a good start yesterday morning too).
What gave us a quick round-trip this morning was, of coruse, yet another Greece fire. This time it was Germany saying "Nein!" to giving Greece a 6-month loan extension saying Greece's proposal was "not substantial" – meaning it didn't guarantee the Banksters who really run the Government would get paid. "In its rejection, Germany argued that the Greek request doesn't meet the bailout requirements and said the proposal only aims at getting bridging financing without fulfilling its commitments."
You must login to see all of Phil's posts. To read the rest of this article now, along with Phil's live intra-day comments, live trading ideas, Phil's market calls, additional member comments, and other members-only features - Subscribe to Phil's Stock World by clicking here.
To signup for a free trial membership, click here.
Do you know someone who would benefit from this information? We can send your friend a strictly confidential, one-time email telling them about this information. Your privacy and your friend's privacy is your business... no spam! Click here and tell a friend!