Friday, May 2, 2008

resistance hit

Well after rejoicing about the US losing 20k jobs the market hit resistance early. I was in lala land as my SKF sold off but are not almost back to even on the rejection of the highs this morning. Honestly I would prefer a positive market today and close near the resistance as that would set up a early week short op next week.
Some of the recent high flyers are giving it back today and I told you about commodities that they will bounce in here. Potash, mon, mos, all up although not by much and OIL is up $3.
Best trading day for the week was today, even with the big downdraft I suffered at the start of day. Trading is definitely about staying patient at time.

Have a great weekend

No comments: