Monday, November 26, 2007

Pre-Opening Comment 11/26/2007

The S&P 500 futures have given up all their overnight gains and look close to a flat opening.

The most probable course for this morning is a flat to mildly positive opening that is followed
by an orderly rally towards 1447-1448 basis the S&P 500 cash.

From these levels I would look to fade the strength back towards the open or Fridays close.

If in fact prices do move back to these levels, then I would be a buyer once again with a tight stop.

I continue to be bullish intermediate term as there are simply too many signs that the market has put in a low of some importance and it should begin a potentially incredible end of the year run higher.

Look To Buy Weakness

As usual, I will let the market tell me where it wants to go, but the above could very well be a good guide post.

Have A Great Day Trading and Remember ALWAYS USE STOPS!!!

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