AI
Wednesday, April 02, 2003 2:12:39 PM
SMAs still Support, for now
Watching DIA Apr 81 Puts near $1 but we still do not have a failure of the SMA support. Just as this Up move took a couple of days to develop and exhaust the resistance it would indeed be safest to wait for the SMA support to be exhausted. It all depends on how much risk one is willing to take without waiting for confirmation of the loss of support. Yesterday we were at resistance but the retest of support Held support. That might continue here, maybe. Fair Value theory would have a breakout moving back to these levels as support though. Right? :^)
Watching DIA Apr 81 Puts near $1 but we still do not have a failure of the SMA support. Just as this Up move took a couple of days to develop and exhaust the resistance it would indeed be safest to wait for the SMA support to be exhausted. It all depends on how much risk one is willing to take without waiting for confirmation of the loss of support. Yesterday we were at resistance but the retest of support Held support. That might continue here, maybe. Fair Value theory would have a breakout moving back to these levels as support though. Right? :^)
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
Discover What Traders Are Watching
Explore small cap ideas before they hit the headlines.
