Wednesday, September 7, 2011

Trend day

Today was a nice trend day, with everything lining up: silver and gold down (gold lost big, -3.2%), dollar down, oil up +4% and treasuries down. A good day for the bulls, closing the S&P-futures near 1200, close to the next resistance-level and Friday-gap high. I expect some chopping around this level tomorrow. Interesting to see what happens after that. Here is the SPY 5m-chart:

As mentioned in the previous post, I got stopped out of the inverse ETF's.
I entered a few new trades:
Long MCP 55.49, SL54.00
Long BAL 68.50, SL65.00
Long SGG 97.20, SL92.00

Missed opportunity: APKT which knew a strong opening and I should've gone long near 48. Keeping my eye on this one in case it gives an opportunity to get in later.

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