Tuesday, March 6, 2012

It's here

The market has already come to the 1350 support zone I talked about previously.

As I showed in the previous post I had reasons to believe this correction would stop here. These reasons are still valid.

My buying tactics: since today we might see a trend day down, I will enter about half of my desired position on weakness below 1353 at the open and add the other half tomorrow if the trade idea is still valid.


Update: another reason to believe the market stops falling today or tomorrow is the coming NFP report. Expectations will be high given the previous strong report and, usually, the market tries to anticipate a few days in advance.

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