Today's Trading Recap: 03/08/10

HOW OUR DAY WENT:

The market opened higher on Monday and the
ES ran up to 1040.50 before a dip. After that dip, a bounce
to 1140.00 failed and it set up a 123 top. A pullback to
1136.00 followed. That was just over the initial support at
1135.50-1135.00 and a bounce back to 1140.00 was next. The
moves couldn't stick with the market so overbought, and a
drop to test the lows occurred just before the futures
settled. As overbough as the market was, shorting that early
pop was the best trade all day.

Good Trading,
Mike Reed
TradeStalker.com

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This publication's primary focus is trading the index
futures ($ES_F). However, you can also use my nightly updates to
trade the following ETF's (SPY), (QQQQ), (SDS), (QID),
(DIA), and (DOG)