Wednesday, January 30, 2008

Possible reversal in final 30 minutes?

With the Dow up as much as 180 points, the gains are now 55 points with less than 30 minutes in the trading day.

While we were fortunate to get out on FXP (third time's the charm and blessed by two angels), don't get overconfident. Incidentally, that ultralong ETF trade you thought of, you wouldn't have gotten the 2 1/2 point gain because you weren't near a computer during that 40 minute period to get out.

SLV is still up 1.40 from the trade point. I think I might have to wait for a setup on a chart, before I can execute another trade. If I do pick something, might want to keep it under 50k so that I don't have as many sleepless nights as with the FXP position.

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