Tuesday, August 19, 2008

08.19.08 - Knocked Out

Knocked out of my trade just as the S&P500 has broken its trend channel. Tried to put it back on, but it's counter the developing trend and looking to exit on a wave.

Bar-to-bar volatility has been fairly low, but the VWAP trend is clearly down as Energy catches a bid (XLE +2.75%) and note spreads widen. Will reassess a counter trade at day-end.

Have you voted in the reader poll to the right? It's just for fun to stimulate some interaction here, but do weigh in! I'll be keeping that open until at least thirty responses are logged.

10:35AM PST UPDATE: We've broken the VWAP and Adjusted Tick is on the mend.

11:45AM PST UPDATE: And... no dice.

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