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Market is rocketing up... But No trade!

5 min Emini Nasdaq 100

Hi,

Market is reaching new highs... it sky rocketed up from the opening bell... There is obviously instituitional buying interest and the jump was too great and too fast for day traders to jump on... There wasn't a pullback and no obvious signals from stochastics or short-term MACD. I wasn't willing to take the risk in this over bought market... No trade today.

Posted by Michael Taylor on July 23, 2009 5:30 PM |

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