Emini Trading Update – Thursday 3 Mar 2011 (18:23)
I’m back to rights today – and thank you to all the well wishers.
We spent Wednesday forming a bottom after exhaustion selling volume on Tuesday. And now we’ve bounced back to 1,330.
My hypothesis is we’re going to pullback during Friday morning (looking for support on the 13,500 tick chart) and then test back to 1,330 or 1,340. We need to see exhaustion buying volume before any reversal though. Friday should be quite interesting.
Link of the day …
As you might know – I think Steve Keen is the best economist in the world. Oh and he’s Australian BTW.
Mrs. Emini-Watch and I haven’t sold our apartment in Sydney but we are mentally prepared for a housing correction in the medium-term.
Here is Steve Keen’s latest article on Debtwatch: Australian Debt Update.
Quotes of the day …
From Nancy F.
“Just wanted to tell you I took 14 1/2 points out of Tuesday’s move. I felt really good about reading the charts and the signals today, and with that said I will probably give all back tomorrow. But I feel I’ve gained some insight as to what the Pros and Ams are doing in relation to the Better Sine Wave Support/Resistance levels. Thanks again for your indicators and videos.”
From Jason S.
“Got to respect your trading. Sick as a dog, come in for battle, one shot one kill, all done in the first hour (if that). See ya. Thanks for making the effort and putting up a post. Keep up the great work. Your call the other day was outstanding.”
From Sergei W.
“I have attempted trading with the stochastic and macd before and have never had a profitable week. But with the Better series of indicators I have been making $250 per day easily, I usually reach my target in about 2 hours. I am 85.5% profitable in all my long trades and 100% profitable in my short trades so far. I am 25 and am going to be making more in 1 month than I have in 6 month before. Thank you and happy trading. I follow you website posts religiously.”
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