Thursday, May 8, 2008

5.08.08 4.15 Settlement


Trade Date:






5/8/2008







EST
Buy
Sell

Position Time Type Price Average Price Type P/L








-1 9:30


1395.00 Close
0 10:44 BF1 1391.25


$187.50
-1 1:55


1402.75 SE1
0 2:27 BF1 1396.25


$325.00






















3.80% $512.50

Summary:

Today's P/L is $512.50; for a 3.80% gain.

We entered the day short (-1).

We bought 2 and sold 1 intra-day.

We conclude the day flat (0 position).

BF1 Filled

Filled 1396.25 BF1
June Emini





Position:








Working Orders:








Buy
Sell
Type Price
Price Type
BE1 1389.25
1409.75 SE1





SE1 Filled

Filled 1402.75 SE1
June Emini





Position: -1
1402.75





Working Orders:








Buy
Sell
Type Price
Price Type
BF1 1396.25
1409.75 SE2





BF1 Filled

Filled 1391.25 BF1 Filled
June Emini





Position: 0







Working Orders:








Buy
Sell
Type Price
Price Type
BE1 1382.25
1402.75 SE1





Good Morning

We enter the day short (-1). Working Orders Below:

Position: -1
1395 Close





Working Orders:








Buy
Sell
Type Price
Price Type
BF1 1391.25
1405.75 SE2





We are in a Bull Market?


Two days ago, I was having a conversation with someone. This person said, in a matter-of-fact way, that we are in a Bull Market.

Have we changed the definition of a Bull Market now-a-days?

So, I looked up "Bull Market"... to make sure the definition didn't change.

Definitions:

1. A period of rising market prices.

2.
A market in which the primary trend is up.

3.
A market distinguished by rising prices.


OK... that is what I thought it meant. So I went and did some math to see if prices were rising.

12/31/07 1468.36
05/07/08 1392.57

It looks like this year prices are lower. So, this year is not a Bull Market by definition. Let's go back further... to the beginning of this century.

12/31/99 1469.25
05/07/08 1392.57

Nope... that doesn't fit the Bull Market definition either.

Conclusion:

We are not in a Bull Market this year... nor have we been in a Bull Market this century.

The Bulls can take their head out the sand. Let's call the Market what it is.

Barlow