How I’m Playing This Very Trendy Intraday Action
It looks as though 1000 is in sight for the S&P’s, if you are
waiting for a pullback to establish some long positions, get in line. With the
weekend ahead of us and a big technical level, I am hoping that the price action
gets a little more erratic. In the meantime, the intra-day positioning seems to
be the best way to play this very “trendy” intra-day action. I trust you took
the long set-up I mentioned in Omnicom
(
OMC |
Quote |
Chart |
News |
PowerRating), while the trade was not nearly as robust as the ones in
Goldman Sachs
(
GS |
Quote |
Chart |
News |
PowerRating) and
Electronic Data Systems
(
EDS |
Quote |
Chart |
News |
PowerRating) on Wednesday, it was worth about
50-60 cents depending on your entry point.
| Support/Resistance Numbers for S&P and Nasdaq Futures |
||||||||||||||||
|
As always, feel free to send me your comments and questions.
Dave