Tuesday, August 17, 2010

AM recap: High % trades with well defined arguments. Extremly good day for intra day trading in AG's

It was all about the AG stocks and the fills they offered to new lows till 11:00 am or so. In MOS at 57 and out at 50% retrace fib levels bellow 55. These trades worked extremely well. Other sympathy plays were found in IPI MOS AGU and of course the speed merchant POT.

Most traders did very well and were done by 11:30 for handsome gains. Great job all!

PM trading was confusing as we broke above the 50 day MA resistance in the SP futures threw the 1088 level. This unwound all the way to 1096 post lunch. Longs worked well here as the market established a short term intra day trend...
 Today's Quote: "The stocks and the markets always tell you what to do"....Thanks for checking, have a great day.....Tim.

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