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Gapped down but Strong rebound, stochastics up --> $1780 profits

5 min Emini Nasdaq 100

Hi,

How is it going? Yesterday was Martin Luther King's day and there was no trading,,, market dropped by almost 100 points... It further gapped down when it opened today... but it was pretty obvious that market was oversold and stochastic was up... Short-term MACD was also pointing up and cutting the signal line...

I longed 1 contract at 1757 and another 2 more contracts at 1777... I held all the way until stochastics cut the overbought line again Short-term MACD also turned down... I exited at 1800 which is also a resistance line with $1780 profits.

Posted by Michael Taylor on January 22, 2008 5:11 PM |

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