Thursday, July 29, 2010

RE-TRACE AT LAST 30/7

Took awhile comming with 46 1/2 hr hits at 4488 before it finally cracked getting set wasen't too hard with a sell order at the highs and a 10 tick stop loss.The market generally moves away fast , when it hits the 3rd standard deviation of the curve. The risk is a breakout , which happens sometimes but in this case it did'nt and I put that down to the massive development in the previous bracket and also the range in the emini S&P ...a chart I set up some time ago.That chart show two things firstly the relationship between the vertical and horozontal nature of the market and also value ..the blue line being the 200 day MA ..above it the market has been to expensive and below it too cheep.



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