Tuesday, August 30, 2011

Ready to Short

I am looking for a short after the FOMC minutes at 2:00. The market is already stretched to the upside and the ISM data on Thursday will most probably be anticipated by the market by dropping, given the ugly regional surveys already available from Richmond, Philadelphia and New York (Chicago is reported tomorrow).

1213 ES is my favorite level, but I would take anything around 1210.

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