Didn't get a fill for a short term long trade on FMG today.
I was tempted to open a few short trades today. However, with the bevy of business news due this week (as discussed on the other thread), my plan is to get the FOMC news out of the way, but open shorts before China's PMI data is released. My understanding is that China's PMI data is released at 9am tomorrow morning Perth time. Hence, shorts will need to be opened within the first hour of trading tomorrow.
If China's PMI data boosts the market then it will be a case of tight stops on the shorts, or wait until the NFP data comes out on Friday night to save the shorts. However, if both China's PMI and the NFP boost the markets, be prepared for a somewhat larger loss on Monday.
The above scenario is perhaps the worst case scenario for shorts, but if both China's PMI data and the USA'a NFP are bad, the sell off will most likely be triggered (sell in May) and the shorts will be rolling in it.
