AI
Wednesday, May 07, 2003 11:19:50 AM
100/320SMA continues as Support
I was away from the computers for a bit and the Major SMA did indeed give us another Bounce. Will once again be watching for support above the SMAs to continue to Hold. MACD is still moving Negative so will be watching to see if we get a Positive reversal here again. Watching the Box with Support at 8500 and resistance at 8650 for a breakout or breakdown. The retest of the 100/320SMA that held support could have been used as a Call trigger or to exit any Puts. If holding longer term then a breakdown of the 100/320SMA could be used to exit any Calls and a breakout of yesterday's highs could be used to exit any Puts. I might not be posting much today.
Follow the Plan :^)
I was away from the computers for a bit and the Major SMA did indeed give us another Bounce. Will once again be watching for support above the SMAs to continue to Hold. MACD is still moving Negative so will be watching to see if we get a Positive reversal here again. Watching the Box with Support at 8500 and resistance at 8650 for a breakout or breakdown. The retest of the 100/320SMA that held support could have been used as a Call trigger or to exit any Puts. If holding longer term then a breakdown of the 100/320SMA could be used to exit any Calls and a breakout of yesterday's highs could be used to exit any Puts. I might not be posting much today.
Follow the Plan :^)
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
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