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Good morning,
For those who are interested, I'm attempting to cover 50% of my short
position in the Sept. S+P futures (from 1382.60) at a short term downside
target, which I've calculated using the 60 minute bar chart.
Low (Aug. 24): 1355.00
High (Aug. 25): 1387.40
Target: 1355.00 - (1387.40 - 1355.00) = 1322.60
The low yesterday was 1324.00, so it's possible that I missed the boat here.
We'll see.
I'm maintaining my protective buy stop at 1387.50 for now, but will look to
lower it in the near future.
Good trading,
Warren
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