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Strategies & Market Trends : Ask DrBob
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From: almita10/4/2007 10:05:37 AM
   of 100058
 
Faded the opening with a short play because: 1. Despite the higher opening the daily Pivot is way closer underneath the SPX opening salvo price than the R1 and because 2. The Fundamental rational on the financial news sites for the higher opening based on the unemployment claims is oxymoronic, imho. and 3. The Trin is way high at 1.70...so this is a scalper short at worst..and 4. The charts: the MACD histogram is showing divergence (declining)and the full stochs are overbought and crossed down. 5. My Trim is also way too high and I am having difficulty controlling my broom. (I will have to take lessons from Harry Potter of Children's Books fame). :))

Glad everyone has a sense of humor.

And as for the trade? So far so good.... :)

Ps. Does anyone here fly Firebirds or Gin's??
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