fed announces 75 bp rate cut today. i short 2 e-mini s&p 500 index futures, june 2008
today:
SOLD -1 /ESM8 @1305.25 CME
SOLD -1 /ESM8 @1307.50 CME
swings down -800, then goes back down, then swings up +800. i head out for school leaving my position opens. checks at school and bam i'm down -2,600. I go to class and check back after market closes: down -2,800.
I'm still very bearish about the markets and I sold off a few ETFs on another account. If I had more buying power, I would short -2 more contracts of sp500s.
we'll see how the overseas market looks tonight.
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