Monday, October 20, 2008

Are we starting to act rationally?

Previous Trade Day
Well, last week we experienced ups and downs but on Friday we showed the first signs of some sense setting in. We still had a fairly crazy day but for half day I finally saw the first signs of technicals and some fundamentals set in.

As many times on options expiration fridays we finsih the day the same way we started. Today I would really like to see more consistency in price points.

Time and Price
As we are slowly getting back to more normal trade enviornments support and resistance are coming back into play. Lets hope we can keep this up. So for the first time in many weeks I finally have some price points to discuss.

Our trade range from last week has narrowed with the top on tuesday and the retest of the lows on Thursday. As mentioned I want to see one more day today with consistency.


As we are up premarket we should open around the 970 and start the trading day from here on out.

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