Monday, July 21, 2008

Friday 7/18

Some points for savvy traders.

Trading
Green light for first short, 5-7 points. Next trade long 10:46 and out with 2. Short 11:47 in direction of 7T, taking 2. Glance at hourly chart at 2:00 says done for day.

* * *

Call - "Mixed cycles on open, but most likely is drop into 10:00."
Result - Easy 5+.

Call - "Very key change (7T) at 11:39. If tech can lead, this could power another drive higher. However, if tech clearly down then more likely dropping here."
Result - Better move down for 1 hour +, and market met with resistance at starting price level.