An interesting day, to say the least

By trader7757, 8 June, 2009, No Comment
emini trading dow trading

emini trading dow trading

What a day we had, the market fell out of bed from the onset, as economists squabbled over what the “real” unemployment numbers should be. No matter how you look at it, they ain’t good, so to speak. And at the end of the day the financials staged what I would call a miracle rally and drove the Dow into positive territory. There any number of theories being floated as the the nature of this late rise in price, and they range from conspiratorial to fundamental. Heck, I’m just a scalper, I want to stay in the trend.

The late day rallyy was a hard one to stay in as it made no sense, so there was a constant compulsion to pull out with a large gain, but the thing just kept going up, and up, and up. One of the oddest last minute moves I’ve seen. Then again, these are odd times…so what should I expect?

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