Wednesday, October 19, 2011

Intraday update - not much going on (yet)

We're still stuck in the trading range created yesterday in the last hour of the session. Until we break out of this range, there is no real edge. One thing noteworthy, tech is lagging while big caps are actually leading today. Small caps and S&P are somewhere in between.

I noticed how the EUR/USD backtested the trendline (see below in red) and the trendline held. So I went long EUO, the inverse ETF on the euro/dollar pair. Entry per $18.11.

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