I was triggered out of the SBUX this morning and this market saw an extreme dump and flush in the markets at midday. Es futures hit 816.75 before snapping back positive and now printing 860! Unreal. I am gonna make this short and sweet. A breakout over 865 on heavy volume and we rally. We rally big. But if we fail at 865 resistance then we could come all the way back down and GASP!...make new lows? Who knows but I will let the charts tell me where we go from here. Anything can happen guys and as long as you accept that fact then you can take the trade much easier without emotion and opinion interfering. Honestly I think we could see a rally higher but trade safe!
Thursday, November 13, 2008
Cliff Diving
I was triggered out of the SBUX this morning and this market saw an extreme dump and flush in the markets at midday. Es futures hit 816.75 before snapping back positive and now printing 860! Unreal. I am gonna make this short and sweet. A breakout over 865 on heavy volume and we rally. We rally big. But if we fail at 865 resistance then we could come all the way back down and GASP!...make new lows? Who knows but I will let the charts tell me where we go from here. Anything can happen guys and as long as you accept that fact then you can take the trade much easier without emotion and opinion interfering. Honestly I think we could see a rally higher but trade safe!
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