March 14, 2008

Net: -$88

Tried to fade XOM on the way down as XLE came to touch PP, alas I went long too early and I was getting stopped out by the time the market tried to hold it up.

CNBC was showing the news  about BSC’s liquidity problem when futures was tanking to PP, then the 2nd wave came which pushed thru all the PP’s on ES, XLF, and XLE. Everything plummeted as BSC fell from $50 to $27 in minutes.

GE plunged almost a dollar then eventually pulled back to pre-breakdown prices.

GE

ge-031408.png

XOM

xom-031408.png

ESM8

es-031408.png

BSC

bsc-031408.png

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