Tuesday, March 31, 2009

first stop out of the week

take a loss here with stop 47.88 of $375 still we are ahead with overnight position $1000
and we just came off big trade- the channel is broken here to the downside but we will need further confirmation that the trend is over-even if it is it served us well and we cannot complain
we study to attempt to predict a new trend -dollar behavior tells us to tread lightly-we all know inventory story so  a revisit down to the low 40's is not unthinkable. Anything is possible with this beast- let's stay flat one day and see how EIA shakes out before we commit to next move