Negative all across after comments from FED chief about the economy. Forex markets had another down day for US Dollor as $DXY sunk further as new HIGHS were made against USD in EUR, CHF, AUD and NZD pairs. What a powerful negative show of sentiment against the USD while FED Chief was on air.
AAPL had a great reversal from the bottom seen just three days ago. And we have our first losing trade since we started trade by trade journal on this blog.
2008 Project M .. TRADE # 11: AAPL
Feb 04, 2008 AAPL Buy Mar 140 Call $ 1.66 .. 20 Contracts
Feb 28, 2008 AAPL Sell Mar 140 Call $ 1.57 .. 20 Contracts
Time: 24 Days
Return: (- ) 5.39 % or $ 179.00
Account Value: $ 9,264.90
We closed our Long trade in AAPL with a small loss and opened another short term reversal trade in same security. Another trade was opened in Index SPY and $OEX is still open.
Volatility has returned a bit with the FED chief in the hot seat all day. Tomorrow is the last day of the month and that adds to same as some position squaring always happens.
Happy trading.
Harry
