I have decided to start posting a weekly (every friday) random video, interesting link/article, or my own take on the market on a daily chart. For this week I have a link to a site that has the unemployment rate going back to 1948. I find it encouraging that the unemployment rate is only hitting 1992 levels, but I’m still looking for it to peak at about 8%-10%. However, it would be most encouraging if the unemployment rate decelerates month over month going forward.
Click here for unemployment data going back to 1948.
Now for the numbers:
My total for the week (2-2-09 to 2-6-09) is (+.41%) or (+$99.15).
I’m glad to see the market going up even after an unemployment rate that wasn’t favorable. Today I decided to try going with the trend, which is something I haven’t done in a while. I exited my trade in DDM where I did because we closed below resistance, and had a tall wick on the 10M candle in the DJIA. I almost wish I had just ignored the rules, but I couldn’t. My original stopgain was $28.14 (+1.12%), but I would have likely taken profits at $28.08 (+.90%).
Click here for a video of today’s trades (be sure to click on “watch in HD”).
The total figure for “Discretionary trading” does not include my paper-trades.
Totals for the day
Discretionary trading: (+.40%) (+$109.84)
All times on the charts are Mountain Standard Time.
DDM – Long (+.40%) (+$109.84) My only real trade today
SDS – Long (-.72%) paper-trade
MA Trading: (+.82%) paper-trading
DDM – Long (+.82%) I tightened the stop at 2:36pmEST because the run looked like it was over
Gapers: (0%) paper-trading
10k strategy: (0%) paper-trading
All times on the charts are Eastern Standard Time.