HOW OUR DAY WENT:
Last night Real Time members were told:
"A washout should be around the corner, and then a rally
might be able to reassert itself" and "...a trip towards
the 1014.75-1014.00 zone could be in the cards before
buyers step to the plate".
The ES opened flat at 1026.75, then went straight down
to 1014.75 in the first 40 minutes of trading. Then a
little double bottom was made, and the buyers stepped
to the plate and took the ES all the way to 1032.75 at
2:40pm. Then, as the ES was at 1032.00, just a few ticks
from the high, I sent an Instant Messege to the group:
(Aug 27-14:47) mike: this is getting parabolic, careful
w/ new long up here
That level wasn't seen again as adrop to 1028.50 followed.
Good Trading,
Mike Reed
TradeStalker.com
Thursday, August 27, 2009
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