Posted by dodgerdog on 2nd of Jul 2008 at 07:22 am
Market Observations
dodgerdog- July 01, 2008 11:49pm
We saw many Hammer Candlesticks
form on today at the close so if we get confirmation (closing above
today's highs) this would likely indicate some type of low has been
established. We also saw some bullish engulfing candlesticks
on the NDX and Nasdaq which hit their downside targets
today.
The initial target on confirmation
would be the 20 day MA's on the major moving averages. I'm
looking to go long the SSO and some other long funds upon
confirmation.
Please listen to the update that
Matt will be giving tonight.
Market
Posted by dodgerdog on 2nd of Jul 2008 at 07:22 am
We saw many Hammer Candlesticks form on today at the close so if we get confirmation (closing above today's highs) this would likely indicate some type of low has been established. We also saw some bullish engulfing candlesticks on the NDX and Nasdaq which hit their downside targets today.
The initial target on confirmation would be the 20 day MA's on the major moving averages. I'm looking to go long the SSO and some other long funds upon confirmation.
Please listen to the update that Matt will be giving tonight.
dodger
Posted by cece60 on 2nd of Jul 2008 at 09:35 am
what would you consider "confirmation" for a long trade?
dodger, so you are planning on
Posted by dylan398 on 2nd of Jul 2008 at 07:43 am
dodger,
so you are planning on entering SSO (if we close above yesterdays highs) even with ECB and non-farm payroll tomorrow??