Wednesday, December 9, 2009
Trade The Range
We are getting closer to the lower end of the narrow range, from 1090 to 1110 that we've been trading for most of the past few weeks. I don't see anything to change that. A Greece default scare took this market to 1090, what will it take to break 1090, Germany defaulting? This is a resilient market, and the volatility is pathetic, so there is no point trading for a breakdown just yet. But the sentiment is not one that supports a strong rally. So range bound trading is the best bet.
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