Tuesday, October 28, 2008

Watchlist for tonight/tomorrow...

I'm keeping an eye on the G/U support level of 160...either for a bounce and continued move up or a break of and retrace downwards.

U/J is in a small downward moving channel right now...keeping clear of that for the time being.

U/C...waiting on what it wants to do. Unable to get above 1.275 right now.

Rate cut coming tomorrow...time to be careful.

Went short U/C

Quick short on the U/C on the break of 1.27...got in right at about 1.2695. Tight stop just above 1.27. Not calling a top, just playing the some of the retrace momentum.  5k size.

**Short lived, out -22 points, no biggy.