Trades/Orders (End of 9/30/10 Session)

One trade:

Bought YMZ10 @10,702, sold @10,728; P&L: 26 points.

September P&L: 60 points.
(10 trades)

Settlement price was 10,723.

New orders:

Buy YMZ10 @10,602 with 10,584 stop and 10,629 take-profit.
(Weekly S1 pivot point is 10,598; daily S1 is 10,640)

Sell YMZ10 @10,848 with 10,866 stop and 10,812 take-profit.
(Daily R1 pivot point is 10,847; daily PP is 10,763)

Buy YMZ10 @10,552 with 10,484 stop and 10,588 take-profit.

(Daily S2 pivot point is 10,556; weekly S1 is 10,598; order entered on 10/1 @9:45 am ET)

[ For some background and a disclaimer, please read this post and especially this post. ]

Trades/Orders (End of 9/29/10 Session)

No trades.

Settlement price was 10,780.

New orders:

Buy YMZ10 @10,702 with 10,684 stop and 10,728 take-profit.

(Daily S2 is 10,687; weekly PP pivot point is 10,699; daily S1 is 10733)

Sell YMZ10 @10,898 with 10,916 stop and 10,862 take-profit.

(Daily R1 pivot point is 10,828; daily R2 is 10,877; weekly R1 is 10886)

Buy YMZ10 @10,602 with 10,584 stop and 10,638 take-profit.

(Daily S3 pivot point is 10,592; weekly S1 pivot point is 10,598; order added 9/30 @12:45 pm ET)

[ For some background and a disclaimer, please read this post and especially this post. ]

Trades/Orders (End of 9/28/10 Session)

One trade:

Bought YMZ10 @10,702, sold @ 10,738; P&L: 36 points.

Settlement price was 10,788.

New orders:

Buy YMZ10 @10,702 with 10,684 stop and 10,738 take-profit.

(Daily S1 pivot point is 10,694; weekly PP is 10,699)

Buy YMZ10 @10,602 with 10,584 stop and 10,638 take-profit.

(Daily S2 pivot point is 10,600; weekly S1 is 10,598; order added 9/29 @9:33 am ET)

Sell YMZ10 @10,848 with 10,866 stop and 10,812 take-profit.

(Daily R1 pivot point is 10,852; daily PP is 10,758)

[ For some background and a disclaimer, please read this post and especially this post. ]

Trades/Orders (End of 9/27/10 Session)

No trades.

Settlement price was 10,750.

New orders:

Buy YMZ10 @10,702 with 10,684 stop and 10,738 take-profit.

(Daily S1 pivot point is 10,710; daily PP is 10781; weekly PP is 10,699)

Sell YMZ10 @10,898 with 10,916 stop and 10,862 take-profit.

(Daily R2 pivot point is 10,891; weekly R1 is 10,886)

[ For some background and a disclaimer, please read this post and especially this post. ]

Trades/Orders (End of 9/24/10 Session)

One trade:

Sold YMZ10 @10,694, stopped out @ 10,716; P&L: -22 points.

Settlement price was 10,784.

New orders:

Buy YMZ10 @10,602 with 10,584 stop and 10,638 take-profit.

(Weekly S1 pivot point is 10,598; daily S1 is 10,650)

Buy YMZ10 @10,652 with 10,634 stop and 10,688 take-profit.

(Daily S1 pivot point is 10,650; weekly PP is 10,699; order added on 9/27 @12:10 pm ET)

Buy YMZ10 @10,702 with 10,689 stop and 10,723 take-profit.

(Weekly PP pivot point is 10,699; daily PP is 10,725)

Sell YMZ10 @10,848 with 10,866 stop and 10,812 take-profit.

(Daily R1 pivot point is 10,860; note added on 9/27 @12:10 pm ET: order entered on Saturday and then cancelled by Interactive Brokers' system for reasons unknown sometime on Sunday before it could work: my bad for not double and triple checking the order was still there before the open)

[ For some background and a disclaimer, please read this post and especially this post. ]

Trades/Orders (End of 9/23/10 Session)

One trade:

Bought YMZ10 @10,602, sold @10,623; P&L: 21 points.

New orders:

Buy YMZ10 @10,552 with 10,534 stop and 10,584 take-profit.

(Daily S1 pivot point is 10,549)

Sell YMZ10 @10,694 with 10,716 stop and 10,662 take-profit.

(Daily R1 pivot point is 10,688)

[ For some background and a disclaimer, please read this post and especially this post. ]

Trades/Orders (End of 9/22/10 Session)

No trades.

New orders:

Buy YMZ10 @10,602 with 10,584 stop and 10,623 take-profit.

(Daily S2 pivot point is 10,585; daily S1 is 10,629)

Sell YMZ10 @10,794 with 10,811 stop and 10,762 take-profit.

(Daily R2 is 10,783; 5/13 high was 10,792)

[ For some background and a disclaimer, please read this post and especially this post. ]

Trades/Orders (End of 9/21/10 Session)

One trade:

Sold YMZ10 @10,744, stopped out @10,761; P&L: -17 points.

(10,765 was the high)

New orders:

Buy YMZ10 @10,636 with 10,623 stop and 10,668 take-profit.

(Daily S1 pivot point is 10,632; weekly R1 is 10,642)

Sell YMZ10 @10,754 with 10,766 stop and 10,727 take-profit.

(Daily R1 pivot point is 10,760; weekly R2 is 10,747)

[ For some background and a disclaimer, please read this post and especially this post. ]

Trades/Orders (End of 9/20/10 Session)

One trade:

Sold YMZ10 @10,694, covered @10,671; P&L: 23 points.

(covered at the close)

New orders:

Buy YMZ10 @10,556 with 10,539 stop and 10,594 take-profit.

(Daily S1 pivot point is 10,555)

Sell YMZ10 @10,744 with 10,761 stop and 10,712 take-profit.

(Daily R1 pivot point is 10,746; weekly R2 is 10,747)

[ For some background and a disclaimer, please read this post and especially this post. ]

Trades/Orders (End of 9/17/10 Session)

One trade:

Sold YMZ10 @10,624, covered @10,602; P&L: 22 points.

New orders:

Buy YMZ10 @10,406 with 10,389 stop and 10,444 take-profit.

(Daily S2 pivot point is 10,423; weekly S1 is 10,419)

Sell YMZ10 @10,694 with 10,711 stop and 10,662 take-profit.

(Daily R2 pivot point is 10,685)

[ For some background and a disclaimer, please read this post and especially this post. ]

Trades/Orders (End of 9/16/10 Session)

No trades.

New orders:

Buy YMZ10 @10,406 with 10,389 stop and 10,444 take-profit.

(Daily S2 pivot point is 10415; weekly R1 is 10,464; daily S1 is 10,482)

Sell YMZ10 @10,624 with 10,631 stop and 10,602 take-profit.

(Daily R2 pivot point is 10,625; daily R1 is 10,587; order modified on 9/17 @ 6:34 am ET: 10,636 to 10,631 stop)

[ For some background and a disclaimer, please read this post and especially this post. ]

Trades/Orders (End of 9/15/10 Session)

No trades.

New orders:

Buy YMZ10 @10,356 with 10,339 stop and 10,394 take-profit.

(Daily S2 pivot point is 10363; weekly PP pivot point is 10,348; daily S1 is 10,436)

Sell YMZ10 @10,594 with 10,611 stop and 10,556 take-profit.

(Daily R2 pivot point is 10,593; daily R1 is 10,551)

[ For some background and a disclaimer, please read this post and especially this post. ]

Trades/Orders (End of 9/14/10 Session)

No trades.

New orders:

Buy YMZ10 @10,352 with 10,339 stop and 10,373 take-profit.

(Weekly PP pivot point is 10,348; daily S2 is 10,382)

Sell YMZ10 @10,559 with 10,571 stop and 10,527 take-profit.

(Daily R2 pivot point is 10,564; daily R1 is 10,513)

[ For some background and a disclaimer, please read this post and especially this post. ]

Trades/Orders (End of 9/13/10 Session)

No trades.

New orders:

Buy YMZ10 @10,352 with 10,339 stop and 10,373 take-profit.

(Weekly PP pivot point is 10,348; daily S2 is 10,383)

Sell YMZ10 @10,548 with 10,566 stop and 10,512 take-profit.

(Daily R2 pivot point is 10,547; daily R1 is 10,509)

[ For some background and a disclaimer, please read this post and especially this post. ]

Trades/Orders (End of 9/10/10 Session)

One trade:

Sold YMZ10 @10,398, covered @ 10,395; P&L: 3 points.

(Covered at the close since neither the stop nor the take-profit was triggered)

New orders:

Buy YMZ10 @10,302 with 10,284 stop and 10,338 take-profit.

(Daily S2 pivot point is 10,296; daily S1 is 10,345; weekly PP is 10,348)

Buy YMZ10 @10,352 with 10,334 stop and 10,388 take-profit.

(Daily S1 pivot point is 10,345; weekly PP is 10,348)

[ For some background and a disclaimer, please read this post and especially this post. ]

Trades/Orders (End of 9/9/10 Session)

No trades.

New orders (change to December contract):

Buy YMZ10 @10,202 with 10,184 stop and 10,238 take-profit.

(Weekly PP pivot point is 10,197; 20-day exponential moving average is right above 10,200)

Sell YMZ10 @10,398 with 10,416 stop and 10,362 take-profit.

(Daily R1 pivot point is 10,403)

[ For some background and a disclaimer, please read this post and especially this post. ]

Trades/Orders (End of 9/8/10 Session)

No trades.

New orders:

Buy YMU10 @10,252 with 10,234 stop and 10,289 take-profit.

(Daily S2 pivot point is 10,246; 50-day simple moving average is 10,247)

Sell YMU10 @10,494 with 10,516 stop and 10,462 take-profit.

(Daily R2 pivot point is 10,494)

[ For some background and a disclaimer, please read this post and especially this post. ]

Trades/Orders (End of 9/7/10 Session)

One trade:

Bought YMU10 @10,392, stopped out @10,378 ; P&L: -14 points.

[ For some background and a disclaimer, please read this post and especially this post. ]

1938 All Over Again?

Whether or not you agree with Paul Krugman (I'm mostly in agreement...I think), one thing you have to say about him is that he's been constant (relentless even) in his thinking in regard to how to address the recession. His latest New York Times Op-Ed piece nicely sums up just what his thinking is:

[W]hen the economy is deeply depressed, the usual rules don’t apply. Austerity is self-defeating: when everyone tries to pay down debt at the same time, the result is depression and deflation, and debt problems grow even worse. And conversely, it is possible — indeed, necessary — for the nation as a whole to spend its way out of debt: a temporary surge of deficit spending, on a sufficient scale, can cure problems brought on by past excesses.

I have two comments:

- those who acknowledge that World War II ended the Great Depression can't at the same time claim that the stimulus had no effect and that government spending never helps.

- one of the reasons why most people soured on deficit spending, a fact Paul Krugman bemoans in the piece, may be that it was used and abused when the economy was not in a serious slump. Which of course should not justify not using it when it is sorely needed.

Trades/Orders (End of 9/3/10 Session)

No trades

New orders:

Buy YMU10 @10,392 with 10,379 stop and 10,423 take-profit.

(Daily PP pivot point is 10,389; order added 9/6 @ 2:00 pm ET)

Sell YMU10 @10,494 with 10,511 stop and 10,462 take-profit.

(Daily R1 pivot point is 10,492; potential resistance at 10,500)

[ For some background and a disclaimer, please read this post and especially this post. ]

Trades/Orders (End of 9/2/10 Session)

No trades.

New order:

Buy YMU10 @10,202 with 10,184 stop and 10,244 take-profit.

(Daily S2 pivot point is 10,198; 20-day exponential moving average just above 10,200)

[ For some background and a disclaimer, please read this post and especially this post. ]

Trades/Orders (End of 9/1/10 Session)

One trade:

Sold YMU10 @10,098, stopped out @10,116 ; P&L: -18 points.

New orders:

Buy YMU10 @10,202 with 10,184 stop and 10,244 take-profit.

(Daily PP pivot point is 10,191; 20-day exponential moving average just above 10,200)

Sell YMU10 @10,448 with 10,466 stop and 10,412 take-profit.

(Daily R2 pivot point is 10,451; potential resistance at 10,456, 08/17 high)

[ For some background and a disclaimer, please read this post and especially this post. ]