Friday, May 21, 2010

Long Entry on ES

Long at 1059 on ES with Stop somewhere below May 6th Low of 1056.

There is key support here, so the risky long is worth it as a potential swing play. This makes a bold assumption we are now seeing a short term market bottom. If this position moves in my favor, I will hedge it by taking short scalps as the markets move up.

Any long entries are dangerous plays in this negative market and must always have stops.

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