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Market breaking down!! Price broke support! So much for a better than expected GDP!

5 min Emini Nasdaq 100

Hi,

How is it going lately? Obviously market is at edge of a cliff, extremely volatile and we can't really tell where it is heading for the near term...

But just like I have warned, we finally got to the turning point... Price broke the support line at 1697 and I shorted 1 contract at 1698 and another 2 more contracts at 1686...

You might be asking,,, but we do not have a signal from stochastics or short-term MACD.. What counts in this trade is the price action and the breaking of the support line that are the major factors leading to me shorting it. Profits of $780.

Posted by Michael Taylor on October 30, 2009 5:28 PM |

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