Tuesday, November 6, 2007

Intra-Day Update

The break down out of the diagonal triangle was anything but destructive.
While initially the market began to fall fairly fast, it quickly stabilized and then went virtually nowhere. Nothing worse than being on either side of the market when it goes dead like that.

Once everything was said and done, there was a 75 cent loss on the trade. It would have been break even had I not added to the position at the first move higher, but all in all 3/4 of a point for a loss is pretty darn good.

It is just one of those days that seems to not give you any action either for or against your position.

I do look for the market to break higher over the last 20 minutes or so and possibly sharply so.
I however will not participate as I think I will let the day rest.

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