Monday, June 06, 2011

WHY 1249 stands out to me

LOW VIX tells me no way fear induced bottom here yet. ALSO notice this is the first time since SEPT of 2010 the 20 has crossed the 50...IMHO not good.



SSK said...

good posts. Once they took the stops out from 1294-1290 on the sept contract, the 1294 became pretty good intra day resistance. the 1275's are worth a stop or two, then as you say, the 1250 on the long side. you could have made a nice trade short from the 1295, after it made the morning low during the lunch hour. you had about one hour to monitor for continuation to the upside. plenty of time for the daytrader. The overnight inventory was balanced also. thanks for the interesting email on the black eagle.

Duratek said...

You bet!.....i DON'T THINK i WOULD have missed this one Steve...A friend sees 1280 but I can't spot that as S on my charts