AI
Wednesday, February 26, 2003 11:13:39 AM
Markets are as uncertain as I am <GG>
We have seen our first breakdown of the SMA support so now we need to see if it will become Resistance or Not. A Put trade could be triggered on the breakdown of the Intraday 50SMA and use 7925 as a stop loss. Below 7850 and the 5 day 50SMA might be the better trade though. Calls could be picked up using a move below the 5 day 50SMA as a stop loss. Still no indication as to whether the Support or Resistance will win in the long run. Short term the Resistance is winning, so far. Did you read any of the stuff on the Darvas board about boxes? :^)
We have seen our first breakdown of the SMA support so now we need to see if it will become Resistance or Not. A Put trade could be triggered on the breakdown of the Intraday 50SMA and use 7925 as a stop loss. Below 7850 and the 5 day 50SMA might be the better trade though. Calls could be picked up using a move below the 5 day 50SMA as a stop loss. Still no indication as to whether the Support or Resistance will win in the long run. Short term the Resistance is winning, so far. Did you read any of the stuff on the Darvas board about boxes? :^)
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
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