Thursday, March 8, 2012

Covered longs at 1367.5

Reasons for that:

- the market has reached strong resistance on the daily chart at 1368-69;

- after dropping fast the market does not rally straight up to new highs;

- expectations are high for the NFP report and the market will probably be deceived;

- the Fed has had a hawkish aura lately and this may attract some short term sellers until early next week.

1 comment:

Anonymous said...

Good trade!

Tony