HOW OUR DAY WENT: The market opened higher and went "trend
up" until getting to 976.25 on the ES. I was until around
noon and got our members a good trade. After coming off
the double top at 976.50 on the ES, those in the IM "room"
got this quick post at 3:21pm eastern time:
(Jul 23-15:21) mike: bad pattern, pop tht fizzles at
975,50-976.00 a sell
That was sweet. The ES popped to that zone, reaching
976.00 and reversed just 9 minutes later. The ES fell
7.50 points to 968.50 by the close. We scaled out in
thirds at 974.00 or better, 971.00 and carried partial
position marked-to-market at 969.00 overnight.
Good Trading,
Mike Reed
TradeStalker.com
Thursday, July 23, 2009
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