Today's Trading Recap: 12/29/09

HOW OUR DAY WENT:

Last night our trading group was told:

"...look for a shorting opportunity on a bounce to test
the Monday highs, or if the market makes token higher
highs, and the move stalls out."

We got that on the open when the ES gapped up and then
reversed from 1 tick over the Monday high 1126.25. Then,
after a 2.75 point pullback, a bounce set up a 123 top and
the ES dropped 4.50 points to the 1123-1122.00 updated
support. That set up a scalp trade on the long side back to
the 1124 resistance. The last hour drop held the 1120.00-
1119.50 support in what was a choppy session.

Good Trading,
Mike Reed
TradeStalker.com

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This publication's primary focus is trading the index
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trade the following ETF's (SPY), (QQQQ), (SDS), (QID),
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