Oct 232012
The day turned into Mr. Toads wild ride. The cash hours range was only 13 points, but it sure seemed like a lot wider than that. The US markets fell overnight after Moody’s downgraded several Spanish regions. The downward bias continued into the cash open as the US equity markets took the morning trying to find a bottom. The DTG 07.75 level was the first level hit and did show a couple of entry opportunities. The trend was down and any long trade was swimming against the current. There was the VWAP and S2 pivot above which most trades would have to climb through to reach their targets. Thus, today’s example trade could have been a win or loss depending on entry price and size of target.
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