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Hi Glenn and Others
Having suggested that the doji close yesterday might have heralded a down
day, I was wrong. Not because it has been an up-day so far today, but
because I was preconditioning by suggesting. Yesterday is Yesterday, Today
is Today.
So, what did we have, but a small gap to close. Having kept clear of the
7.30 Housing, which looked uppish rather than downish (for which I had
conditioned myself!) I didn't take the stop taking tick to within a tick of
Yesterday's Low, if you see what I mean. But the double bottom had to be
taken - even if only to just under the pivot for the 9.00 report. After
that the market went into a wedge and the breakthrough to the north, where
the pressure was, looks as if it may not make it through the re-jigged R2,
let alone Yesterday's High. But 21 to 27 and 30 to 04 is getting on for a
couple of 'six ticks', which is what the boring bonds is about.
Anyway, it's Friday evening here, so you 'll can have the volatility of the
witching close - me, I'm for an early post prandial...
Bill
PS Moral of the story: Don't pre-judge, it makes you prejudicial. Just
read the tape! Small gaps get filled (most times!), double bottoms are
there to be taken (most times!) and wedges breakout, particularly if there
is a Third Time Through trade to be had (most times!). It's all good fun!
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