Tuesday, August 11, 2009

Technical Picture - Profit Taking

Sellers controlled the session from the open, with some retracements in the afternoon, followed by a push back to morning lows EOD. Volume was low ahead of the FED, and/or summer doldrums.

FOMC minutes tomorrow afternoon at 2:15 EST. Crude inventories at 10:30.

JPM was a planned trade as discussed last night. Not a great setup, but I set a sell stop order on break of ORL as price contracted between the two blue lines. The second trade was an ambush, but it really started to feel like the bulls were going to take the close, as usual. Just managed to work in the final minutes of the session.

1 comment:

bl said...

Nice 2x short, long in between?