TradeStalker's
R.B.I. Trader's Update
12 / 16 / 2008
(Published Since 1996)
...............................................
Dateline: 8:50 pm eastern time, 12/16/2008
After another look at the charts and my
indicators, it still looks like an early pop
to the end of day high areas would be a
great shorting opportunity. On the downside,
if the 906.50 level is broken early, then the
904.00 level will likely be broken as a top
could be in place. Shorting a bounce would
be in order then, as the ES could go for the
899.75-898.75 area quite easily.
However, if a drop does hold at/above that
906.50 level and reverse, then the upside
momentum will still be intact. IF the market
easily gets through the 915 level, and there
is a good rally that takes the ES to the
926.75-928.00 zone and that area is rejected,
it would set up a good odds short with a fairly
tight stop.
Good Trading,
Mike Reed
Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
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Disclaimer
The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.
We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************
This publication's primary focus is trading the index
futures. However, you can also use my nightly updates to
trade the following ETF's (SPY), (QQQQ), (SDS), (QID),
(DIA), and (DOG)
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