Wednesday, May 6, 2009

Second helpings

I am short again at 4371 and 4363, basically around the same level I got stopped out earlier. I am going to give this another chance, as I really should have been more aggressive on my previous stop.

Divergence on the hourly is forming, momentum seems to be fading, and while the FTSE made a double top, the ES did not follow and failed an ambush short area.

I am cautious, so I'll play this conservatively, I am not here guessing tops...

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