Friday, April 24, 2009

UAUA scalp

I won't post a chart because it's pointless on .08. I bougt 10,000 UAUA @ 6.23 sold 9 minutes later at 6.32. I have been extremely busy at work, and it has prevented me from trading more this week.

What I'm looking for in the coming day/week:

DIA: 81+

Q's 34+

SPY: 87+

If the market hits those points above, I think the rally has a chance to continue upward.

I feel if the market continues this consolidation / correction for much longer that we will continue to slide off the rally highs.

As of right now, I still own a small position in USO. Other than that, I am in cash looking to scalp.

R

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