Monday, September 11, 2006

FIRST TRADE OF SEPTEMBER...

My weekly trend is down, and on the Daily chart, the timing looks good. The stochastic is heading down, and below 50% level. I am short the NASDAQ 100 futures. I much rather would have liked to get in at the high of the day around 1612, but that opportunity may present itself again later today, where I will add my to my 1 lot position (short from 1609). My stop for now is $1 off the high at 1613, but I will adjust it if and when my second short gets lifted.

As for now, I will be looking for proper outs on the stop and target levels.

Good luck.



P.S. I am having trouble loading pics, so I will try to get the charts on this trade up shortly.

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