After nibbling two long scalps (small nibbles), which I took out almost at breakeven, I re-entered a long as momentum built on top of the 3965 line.
I am now long at 3988, 3992 and 3999, with a stop at 3970. I view this as a day trade for now.
As mentioned in the play for today, I would be looking for strength between the 3950s and 3970s. The strength did appear, but there was abudant choppiness this morning, and I was getting mixed signals on the intraday charts until well after the 9:30 (UK time) data.
Wednesday, April 22, 2009
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