Today's Trading Recap: 09/11/09

HOW OUR DAY WENT:

We were selling early strength, and
had resistance at the 1043.50-1044.00 zone on the ES.
The ES reached 1043.75 and fizzled, a great reward/
risk shorting opportunity. The ES then dropped 10
points to 1033.50 before bouncing, right at initial
support at the 1034.00-1033.50 zone. Members were
then given 1038.00-1038.50 as new resistance, and the
bounce reached 1038.25 and turned back down. They had
a 3.25 point pullback, and then rallied up to 1039.25
before fizzling. I sent an instant message telling
members "if 1035 holds, and 1038 exceeded, then 1039.50
can be seen on 1 more push higher and then fail." The
ES popped to 1039.25, then dipped to 1037.00 before turning
up again. The up to 1040.75 was quickly reversed per the last
of 8 intraday updates. So, we nailed today's high AND low on
the ES, and also a had a couple of low risk scalps in between.

Good Trading,

Mike Reed
TradeStalker.com