Market Update: Called The Reversal Last Night - On The Money
August 8, 2008 10:42 AM
I said last night that if “we see further weakness, look for an early reversal attempt”. We cleared yesterdays low, reversed and skyrocketed, just as I thought was likely. I believe this should be a firm low in the market near term unless we somehow took out todays low here, which seems very unlikely outside of huge news.
Closing Update: Too bad I am too much of a sissy to trade real money on the futures. Up over 200% today would have been “pretty good” day. Ha. I should have been up far more as i thought it would back down near 1275 before resuming higher later and it blew right through it and had to jump back in far higher.
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Holy moly i called the “early reversal attempt”. It reversed 5 mins in on the futures and shot up like a cannon all day…