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Trade Profits 10 Points on S&P 500 futures Limit Order

Thursday, 11. May 2006
2/23/06 $25,000 - Current $29,824

The S&P 500 futures trade from 1330 reached 1st profit target of 1320.25 on sell off across all markets. Exit was done on a standing limit order so the trade could be executed without having to watch the market. Volume is going to big well above average which adds significance to this downturn.  After finally getting some profit from the last trade, it is now time to reverse and buy 1310 -1311.50.  This is a contrarian trade based on an oversold market. Notice the "down leg" on the chart. We will look to profit on a pullback from this extreme. 1st profit target is 1317.75.  This trade will be done with a 1/2 position or two ESM06 Jun contracts. 


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