Wednesday, July 21, 2010

Horizontal Rules 22/7

The battle truned out to be a 50/50 draw..and where back going sideways again.
Big Ben put the Kibosh on any chance of an upside break out.
Leaves us with a selling tail , single prints.
and some responsive buying into the close, the single prints represent minus development ( a force in the market ) in the srt term and untill there taken out I'll be playing it from the short side.
It will be intresting to see if the buyers over the past week decide to cover.
My guess is there probably average Long at about 4300-4280.So where looking at critical support today.

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