If they are going to keep giving us set-ups, we'll keep making money.
Yesterday, I don't think I could have been more clear than to headline our pre-market post "Technical Tuesday – Short the Dow at 18,000! S&P 500 at 2,100!" We even had a helpful illustration to hammer the point home, for those who like visuals. As you can see on the updated chart, the Dow made us a quick $500 per contract profit with a similar gain on the S&P.
Remember – I can only tell you what the market is going to do and how to make money from the move – the rest is up to you!
The Nasdaq had an even greater fall, plunging from our 4,585 line on /NQ all the way down to 4,505 which, at $20 per point per contract, was a nice $1,600 gain on each short contract. The real star of the day, however, was Natural Gas, where the July (/NGN6) contracts we discussed in the morning post (if you subscribe here, you'll have it in your inbox every morning!) contined on the $2.32 this morning – up $1,200 per contract from where we took half off the table with a $700 gain (all detailed in the morning post).
Oil (/CL) is still a great short below our $41.50 line from yesterday. Inventories are at 10:30 and I doubt they will help.
The Natural Gas ETF (UNG) is, of course, our trade of the year and we've discussed that to death (see this weekend's Top Trade Review for our current position). Also discussed to death is todays news – I already put up a tweet on that with all the charts and news that will be driving the market today – as we discussed in our Live Member Chat Room earlier this morning.
Today should actually be a pretty dull day, we still like yesterday's shorting lines but tight stops above as the ECB makes their policy announcement tomorrow morning and that means we've all got Draghi Fever -…