Wednesday, November 24, 2010

Market Update - November 24th - More upside and then 1180's?

The close today not only tested the 1190-95 area but broke thru the bearish trendline, which turns the short term trend bullish. Give then fact that we're entering the holidays, I lean towards more upside with today's solid close. And if the next session brings us further upside then I will attempt a short again and go long at the level I watch. I sold my longs today at 1191 and shorted prematurely and violated one of my rules by holding on a bit too long. So I stopped it at 1196 and I am 100% cash right now.

Happy Thanksgiving!

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