Befriend the Trend Trading Message Board

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Strategies & Market Trends : Befriend the Trend Trading

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From: Dr. Stoxx	6/27/2007 2:33:59 PM
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Everyone and his uncle are looking for an EOQ rally post-Fed...just starting the party a bit early. And we all know what happens when EVERYONE expects the markets to move in one direction (it often doesn't!). Still, bulls are hopeful here for yet another Uncle Ben rally. Wrote this to our subscribers this a.m.: Good morning traders! Well, we got what we expected...a 2-day selloff setting us up for an EOQ/Fed rally to close the week, month and quarter. What I didn't expect was that our longs would get caught up in the downdraft quite so forcefully! Futures are down a bit this morning which means that at least we won't have to suffer through another "gap and crap" day. We should touch down to 50ma support on the indices and then rally from there. Wednesday is often a reversal day, so I expect a hammer candle to form with two strong uptrend days to close the week. If we don't get any of that, then this market is in worse shape than I thought. We are bit light now after losing several trades to stops so we are adding 2 longs today to take advantage of any ensuing rally. We have 2 new BTTT Swing Trade(s) for you to consider for today's market.

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