Monday, February 1, 2010
This morning there were three announcements at 8:00am: Construction spending, and two announcements on manufacturing. One of the manufacturing announcements was high impact and the other announcements were low impact. I placed my trade based on the high impact announcement using the straddle technique. There was movement immediately after the announcement and I made 1.25 points (12.5%) in 47 seconds. There was a correction after about three minutes where I could have picked up another point or two, but I hesitated and missed the opportunity. I need to learn to trust the prediction points that MMT provides and to go with my gut instincts.
