“$7500 this morning on 650 and 655 calls; done for the day. Skimmed $0.50 profits
Cheers!!!!!”
Some of our Advanced Mentoring students use trendline channels. Here you can pick profit targets by simply drawing two parallel trendlines that connect two recent highs and two recent lows. These trendlines are seen as resistance or support points where traders would take profits and /or reverse their position. Even though there is a possibility of prices not stalling or reversing at these points, they serve as guidelines of where to take profits or stop loss your positions.
Floyd watched his ever trusty laptop drop to the ground Friday when a Great TSA employee at the airport dropped his laptop as Floyd went through airport incompetent airport security. Sigh. Email responses will be a bit slowed this week as we install backups, as Floyd is still traveling.
Friday the market was classic in its hesitancy, showing the 400 point run that so excited the investor earlier in the week to not quite hold when job reports came in worst since 2003, with over 80,000 jobs lost.
This may trigger what we see to a beginning trade range move now, back to former Dow lows. By the end of the week we feel downturn could be well in process, with historical key reversal dates occurring.
Stocks advanced early, to help us lock in final call profits, and faded later in the day as oil rose, and bond insurer MBIA was downgraded.
How can giving a 35 billion contract to a European company rather than Boeing, our newest military decision, be good for our economy? Halliburton, doing so well from the rebuilding of what we bombed has now moved its corporate headquarters to Dubai.
Please tell me that Emperor Bush’s helicopter, Marine One, was not outsourced to a British-Italian conglomerate.
There is a sold point to global economics, and a even more solid case for logical spending our own tax dollars.
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