The market went way down on news near the open. I thought it was oversold, so went long with one contract then sold it for a 4-point gain. Event though this trade was profitable, I took a lot of heat.

Heat on the 7:37 to 8:38 trade:
1344.50 - 1339.25 = 5.25 points

Then I waited until about 9 and got long again. I scaled into a 2-contract long position. I was hoping that the market would keep going up into the close, but I was stopped out for a pretty good gain.

Executions:
Buy     1       1344.50 7/17/2012  7:37:14 AM   Entry   1L
Sell    1       1348.50 7/17/2012  8:38:41 AM   Exit    -
Buy     1       1352.25 7/17/2012  9:02:46 AM   Entry   1L
Buy     1       1354.00 7/17/2012  9:56:25 AM   Entry   2L
Sell    1       1357.50 7/17/2012 12:06:32 PM   Exit    1L
Sell    1       1355.50 7/17/2012 12:39:27 PM   Exit    -

Net for today:
- 1344.50 + 1348.50 - 1352.25 - 1354.00 + 1357.50 + 1355.50 = 10.75