Friday, December 30, 2011

Resistance and Shorting

There is heavy line of resistance between 1260 and 1264.  I do not see this market able to break through on the final day of the year.  You should see traders closing out their books and that could lead to some weakness today.  I am looking to daytrade short intraday but will not stay short overnight.  As I have mentioned in the past, the first trading day of the year is the highest percentage gap up trade out of whole year. 
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4 comments:

  1. Anonymous12/31/2011 07:35:00 PM

    You got long dawg?

    ReplyDelete
  2. Market Owl1/03/2012 12:59:00 AM

    Got long for a quick trade. I am bullish short term on the market.

    ReplyDelete
  3. Anonymous1/03/2012 02:14:00 PM

    U called it. Nice trade dawg

    ReplyDelete
  4. Market Owl1/04/2012 09:34:00 AM

    Thanks. I got out of the long at the open yesterday. I'm just watching and waiting now.

    ReplyDelete