Friday, August 17, 2007

A telling day looking good for the longs

Posted by TraderMark at 3:06 PM TweetThis
As stated earlier this should be a telling day

With an hour to go the market is picking up some steam which should (short of a number of hedge funds announcing their blow ups this weekend) set us up for a decent rally at the front end of next week. It has just been way too easy to short blindly of late and make money.

While I still expect a retest of the 12,500 area we hit yesterday (it was just yesterday, imagine that, 500 points higher) - I am hoping for some strength to 13,300-13,400 first to lighten positions into.
One can only hope it is that easy. :)

Posted by TraderMark at 3:06 PM

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