Asphyxiating tedium has made this a poor choice of trading vehicles for the time being. We spotted an entry opportunity during yesterday’s tutorial session with the potential to produce a gain of $500 per contract if the futures rallied just ten points in the remaining four hours of the session. That would have equaled the impulsive rally that unfolded in the first hour. Lo, the futures tripped our entry signal and were able to gain only four points from that point forward. The implication is that even though we picked a winning trade, and even if we had had the patience to monitor it closely for the rest of the day, we’d have come away with a profit of just $162 per contract. The 2122.50 target we used is still valid (see inset), but you’ll have to decide for yourself whether it’s worth pulling an all-nighter to see it through. A pullback to p=2116.00 after the futures have rallied into the range to 2117.00-2117.75 would offer an opportunity to get long ‘mechanically,’ perhaps using an electronic platform to do the hard work after you’ve gone to bed.
