Market rebounds on government bailout ! $1400 profits
5 min Emini Nasdaq 100
Hi,
How often do you see the market gapping up these days? Today market gapped up by more than 30 points. Obviously market is in favor of the government's bailout plans. Do you go short? NO! This is obvioulsy a chance to go long..
I was not too sure whether the upward trend would continue.. especially in these volatile times. I waited till there was a pullback to my yellow moving averages, short-term MACD and stochastics cut their signal lines...
I longed 1 contract at 1385 and held my position all the way till the end.. I exited at 1455 with profits of $1400.