12 April 2007

If This Is It

Pretty simple set up today...if the bulls can run the market up into 1818...I want to be a seller...careful though through the first hour as 1825 is a definite possibility and we can define our risk a bit better up there...want to be patient as it may take a while to kiss this range over 1800 goodbye and start heading towards the important (at least in my my mind) pivots around 1750...not expected until next week when the gravitational pull of expiration should tame the overly bullish crowd...
So we do not want to get short too early in the high teens and watch as the market spikes into 1825 leaving us either stopped out or bidding just to get even...so relaxed trade today...jfg.

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