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Surprising turnaround by the market. Long -> $1000 profits

5 min Emini Nasdaq 100

Hi,

The market started going down from the opening bell... it smelled like another melt down... But I was not too keen to enter the market until a clearer direction emerge..

I decided to test the market with 1 contract at 1203 when stochastics formed a double bottom and cut the oversold line... I longed 1 contract and held my position until price hit the moving averages and stochastics started to cut down the overbought line..

I exited at 1253 with $1000 profits.

Posted by Michael Taylor on October 16, 2008 5:53 PM |

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