Thursday, August 30, 2012

Market Update

The market finally made a stronger move today and made a lower low for the correction that started 8 trading days ago. It seems like the market is trying to price out any potential disappointment on the QE3 announcement, however the bearish move was held by support and this still continues to look like a W4 until 1391 gets taken out. Tomorrow should get interesting..

Long Term Portfolio: 100% Long
Short Term Trading Strategy: Shorting intraday extremes, closing same day

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