It’s Like Being A Kid In A Trading Candy Store

March 12th, 2009

Well, another great day for our LONGS thus far. Most if not all of our positions are up another 6-7% today on very good volume. After what looked to be a flat day early this morning, the markets seemed to get a nice big spark from GE news which sent them much higher into the 4% rally today. And how about that MADOFF fellow – what a guy right? Regardless, I think we are getting close to intra-day resistance. As you can see from the chart below – which is a 10 day look at the S&P – were are just under the reversal levels. So, I would advise that we watch this area like hawks throughout the close today. I have already moved up my stops on my longs as members know to lock in about a 25% return on each one!

 

spx6

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