Pressure of Fear

Yesterday was Floyd's form of perfect trading. The market hit theoretical Dow lows of 10,396, only to reverse to 10,600 by 2.47 p.m.

This allowed us profits on both the put and call that were recommended this morning. Here's a note from MS, a new Advanced Mentoring student:

"Today's going well so far. Picked up the put at 3.30 and sold to 4.40. Then bought the call for 3.2"
I did not hear back from MS but even the 3.20 buy on the call showed a profit, and some traders bought two buys as the market bottomed and were able to trade the call with highs of 3.90 and lows of 2.95.

The market may be bottoming, or may have another run to 10,121 to give us all the chills, but we think the next moves are up, and enough to "relieve pressure" of FEAR, for the short term.

No chart concludes this, as actually only PNF charts right now give any clarity by showing former support and resistance lines.


Remember this as the talking heads talk.
There will be more debt. There will be a higher unemployment rate. The large companies will thrive, as they are now. Republicans, Democrats, and all of us can sit back and realize we are now really run by corporations, as we have just so painfully learned in the Gulf of Mexico.