Wednesday 10/19/05

The S&P futures have gapped down as yesterday was a very weak close.I have to think a lot of bulls might throw in the towel here for a capitulation down,but we'll have to wait and see if we get back above the gap or not.

Trades Today

NEW short at 31.76 covered at 31.28,30.99,30.85,30.80 for +.48,+.77,+.91,+.96 That's more like it. I don't usually take trades this early,but this one was calling my name and I had to execute.The specialist showed up right above me after I entered so I had more of an escape exit than thought at first.Then the orders started coming down and as it thinned out I took my exits.Good Trading all!

I'm still working on the new website,but if you want go ahead and take a peek here: SlyTrader.net

Update:11:00am NEW made a nice reversal back up.Looked ok long at 31.35 I just didn't take it unfortunately. Oh well can't get em' all.S&P futures have filled the gap with a little help from the EIA statistics on Oil inventories which came out with a supply above consensus for crude.