Today's Trading Recap: 12/03/09

HOW OUR DAY WENT:

The ES opened higher and sprinted to
1117.00 in the first 15 minutes, and then a reversal
occured and the market dropped sharply. The ES fell to
1105.25 and that was right at key support listed at
1105.00-1104.25. The ES bounced, but the move had a
lid at the 1111 updated resistance. That set up a couple
of good shorts at the 1109.50-1110.50 sell zone, especially
at around 2 pm. The ES made a tiny double top at resistance
and turned down, and when 1107.50 broke the market nose-
dived. As was pointed out all day, breaking 1105 meant a
trip down to the 1098-1096 area. In an Instant message
members were told:

Dec 03-15:49) mike: bid 1098.25 that might be the low,
but bid 1098.25 to cover day trade shorts , if short
from 1109-1110, holding some overnight

The low was at 1097.50, right in the 1098.00-1096.25
target/support area as our group banked about 12 points on
the last trade.

**The =8= intraday updates are copied below the nightly
game-plan Support and Resistance tables. In the chat
box, much more guidance was given intraday.**

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Good Trading,
Mike Reed
TradeStalker.com

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