Tuesday, September 28, 2010

Futures Point to a Flat to Slightly Higher Open...Bounce Continuation or Pull Back?

BMO - ES +0.50 and NQ +5.00 futures are slightly higher with less than two hours before the open and point to a slightly higher open...Watch this mornings open...if trading goes below Friday's S1 look for a pull back...if trading holds above this short term level watch for trend continuation...

TLT is quoting down 41cents and the EURO is trading 31 pips higher...

SPX
Resistance: 1,148, 1,170
Support: 1,130, 1,115, 1,100

Quoting Down - USD, FFIV, POT, SINA, TLT, WHR, ACN, ICE, CLF, USO, VOD

Quoting Up - ESI, RVBD, CRM, PNC, MA, VMW, PCP, STI, MOS, CMG, LXK, HLF, BA, ZION, CAM, TBT, JEC, FDX
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1 comment:

Brian McAllister said...

Dave,

You highlighted a papertrade with 2 targets on GMCR in an early September trading room. I followed along in my paper account with the SEPT 31.67 calls and the OCT 34 calls. T1 was hit after about 1 week (in at $0.65, out at $2.44). The T2 was hit this morning (in at $1.01, out at $4.15). A great example of an automatic trade. Loved it! Thanks Dave.

Brian

September 28, 2010 at 7:35 AM

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