Monday, May 31, 2010

PRS 133 comes through again

Shorted ES around 1190 and closed at 1181, not bad for a weekend mini-flash crash.

Reshorted at 1182.75 on ES bear flag, and EURO bouncing off it's 38 Fib as resistance.  Stop now moved to .25 above entry to give it just a little room, no use taking a loss at this stage.

The "Oil Spill" will be a great headline to blame if there was a 2% down opening.  Plus while everyone is still in a daze from the weekend the panic will be easier to start.

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Insightful and Useful Comment!