Wednesday, June 17, 2009

Play for Wednesday, June 17th

At pre-open we are quoted in the 4300s, and we reached as low as the 4280s at US close last night.

Let's see if the 4300 support holds this morning. Ideally, we should rally up towards the 4400 line and get a chance for a good short entry: however, given the current downside momentum a sell signal might occur earlier. The 4350-4360s could also provide an entry.

I will not try to scalp a long, as I did yesterday in a rush, and will look for a stable short entry instead (hoping to be at the desk when it appears...).

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