04 April 2007

The RunDown

No need for complicated trade ideas this morning as the rest of the week should bring a range bound trade between 1790 and 1820, barring any unforeseen events...I want to be a buyer on weakness into 1805 with clearly defined risk under 1800 and a seller above 1820 (closer to 1822-1824) with clearly defined risk above 1825. The ranks of traders will start to thin this afternoon and when this happens these pivots become all the more important as price will be drawn right to them...so no getting "cute"...just trade them straight up...through these pivots with any strength and they could get really running...but I don't expect that kind of action today or Thursday...let's make some money...jfg.

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