What a day. What a game. The perfect indecisive close. We close right below 1050 on the ES. The exact place the market needs to close so that it leaves no clear answer to where the market is heading next. Market showed every reason that it should break back above 1060 and most likely back to fill the gap to yesterday's settlement. However it was all tomfoolery, a beautifully manipulated market. The type of movement that will make everybody unsure of their position whether long or short. I am still holding my long position, but now of course I can no longer rest easy. I will stick to my original plan and hold this position with a target of 1065. No guarantees though. This close is weak in my opinion. To be honest I want to exit.
I will not exit, will stick to the plan. We'll see what happens.......
Tuesday, August 24, 2010
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