Sunday, September 09, 2007

Trading the Open / Monday Sept 10th 2007

I think the markets need to probe deeper before we launch a full recovery. However, short term we seem to be a bit oversold and Mike Reed the Tradestalker seems to agree. The open Sunday night dropped but failed to take out the low of Friday afternoon and quickly reversed.

As I write we are at 1460. I see a possible long bounce from here to 1480. Beyond that...........?

Unless something unforseen takes place between now and the open, I will be long to 1480.


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