Brokerage and Tomorrow

I think I've found the broker that I am going to use to trade futures: MB Trading. Looks like a pretty sweet deal. They charge $2.09 per side of a S&P500 emini trade with $3,094 in margin. If I group together some cash I should be able to get that amount together. I figure that if I can get four ticks (i.e. one dollar on the S&P), or $50 in profit a day, I'll do fine for quite some time. Hell, I could do well just scalping $25, or two ticks a day.

Anyway, tomorrow depends largely on how the Obama speech was perceived. Success, failure, or entirely vague? I don't know; I have trouble watching that claptrap.

If we can maintain price above the 50-day MA I think this may be a consolidation, which means, we'll hover around here for a few days until enough people buy into the market that there are few sellers, thus pushing the market up. I don't think things are all that certain for tomorrow, definitely not like they were on Monday. Watch the ~800 level for a bounce--it'll make a nice long entry for a good 5-10 points (hopefully). If we head as low as the 50-day at 794.38 (~795 for simplicity) that fits the bounce level perfectly. I'd buy for some points and decide whether or not to hold until 820ish max. I'll probably get in around 800 and out at 805. All depends; again, tomorrow isn't set in stone.