Wednesday, July 23, 2008

Biege Book

Biege book will be released @ 2 PM today. Should be whippy on the announcement. Lets see if we get some direction after the announcement

S&P

S&P came within 3 ticks of that 1292 number we have been noting, 1291.25, man the manipulation in this market is amazing. Lets see if thats all the bulls wrote to the upside.

TRADE IDEA: TWM

Lets pass on the TWM till we hit the 1292 level on the S&P. Yesterday's action marked a bullish candle on the charts and thus implies we will push higher here short term.

SKF I will add to my call position if we dip in the mid 110/120 level as I think that's a good play here as they are overbought but no reason why they can't stay overbought for awhile.

Stay flexible here folks trading has been choppy.