Turned 26 today, and decided to sleep in since I was up till 2 AM last night finishing some web dev work, and late night reading (check out the Success and Motivation post on Mark Cuban's Blog). As mentioned in yesterday's post, Max Pain Theory predicted price to be in the $87 area for SPY (870s for S&P500 Index). I don't really have much faith in Max Pain, but it's good for entertainment value, and price did come down to 876.75, so maybe I should continue to track it over the next few months and see if it's worth a look. I was busy with web development a good part of the week, and trading was not the main focus. I plan on wrapping up the Web Dev stuff over the weekend so I can focus on trading next week. Ended the week with a net gain of +17.25 pts trading 3 out 5 days, with one of those days dedicated to experimentation. I have high hopes for next week's results.
ES (Daily) - Price still within bullish channel, and 876 low from 05/04/09 was held today.