Monday, October 6, 2008

STILL BULLISH: 98.33 LAST DIA

98.50 on the last buy signal - hit 99.50+ within 30 minutes.

Very bullish setup here for a very big rally, but you still have to be careful, as always.

BUY AGAIN here 98.33 last. Risk 0.50 pts and reverse, then reverse and go short if stopped and risk 0.50 pts again and reverse to go long and risk 1.00 pts on that long position.

I feel strongly that a major rally will emerge out of this environment. It may take some time to get it right and you may suffer whip-saws back and forth as you go long, then short, then long, etc.

The goal is to make trades that have low risk and in the end you will have profits with good probability (not guaranteed, of course).

12:34PM 98.34 last (stuck in a tight range here 98.50-98.30 for the last 30 minutes)

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