23 March 2007

Ramping It Up

As you can see from the chart above we strayed very far from the VWAP (volume weighted adjusted price) and our just now catching a breather as she catches up...I am expecting one last fruitless attempt as the bulls try to breakout above 1830 to be squashed and revisit to the 1820 level and maybe 1810 before the dip buyers come back in...now this may work out either way...first down and then up or 1830 then 1815...so the trade today is to fade the move which ever way it plays out...I'm expecting this too pan out well today and depending on market internals I may be trading more contracts than usual and using a 5 point stop looking to net 15 points either way...jfg.

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