This DOW level is an important support, I am looking at 1314 area for me that is far more important, I think we are holding it very well so far, the bounce of DOT from lows and steadying course it held as we sold solid all around is a good sign, so is holding up of our support even today . For me I am buyer at the dips and seller on the tops on inter day SPZ options trading. I will like to see now on DOT a close above 625 and a break of NDX resistance of 2500, if we see that it will be good to intiate some long positions on BRCM VOD DCLK.. I had good run on DCLK from lows but I think if internets haver to break this 625 decisively we will see some good levels in these few stocks, I have this cable and Wireless also as a good flyer but right now I am trying to trade specific inter day on SPZ options as we consolidate in this area, we need now either 1330 to break or 1314.. that will decide the short term direction of the market, we can see one day short break but wait for two closes beofre you take a short plunge evben if DOW breaks 10500 on closing basis, I will close my shorts and not carry them overnight if even 1314 is taken out.
As far as I am concerned I am more interested in Nikkei and Yen at the moment and $ strength vis a vis Euro and œ, I think we are seeing some reversal of flow and $ is strengthening vis a vis every currency except Yen , for me the classic trade wsould be to re-establish my $ long position vis a vis Yen at 102 area and go long Nikkei as Nikkei hits the 16800 area if we see Yen at that 102 area... |
