Monday, August 16, 2010

Trade Update

I will continue with my plan to add to my longs today (if the market drops to at least 1068 ES). I will place a stop below 1060 ES.

The put/call ratio has not made a big "bearish spike" yet, despite the big move down in the stock market. This is the only caveat for the rally scenario but the ratio can drop today and, also, it is at levels associated with oversold conditions in the past

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