Today's Trading Recap: 10/07/09

HOW OUR DAY WENT:

We were shorting early strength and
the ES popped up to 1052.00 resistance about 10 minutes
in, then it dropped 5.75 points to a 1046.25 low. That
was a good start, then after the rally fizzled the call
for a choppy narrow range day came true. We had support
and resistance areas barely poked through by 2 ticks,
then the reversals occurred. Those areas were then pinned
down in the afternoon, and the ES bounced between 1051.50
resistance 1047.50 support, and after 1051.50 was finally
broken, the ES held above the 1051.50 on a dip then ran
up into the close for stocks.

Good Trading,
Mike Reed
TradeStalker.com