Saturday, May 19, 2007

Another New PRIME Resistance at 1528.25

PRICE continued to power up in last night's session. My SHORTs, though valid trades, were decimated largely by fake-outs. For my first two trades, I was able to move my STOPs to just 0.25 pts away from Break Even, but for the later two SHORTs, they were stopped at my customary levels of 0.75 - 1.00pt away from my entry.
With PRICE Breaking Upwards from the rising wedge (many traders were pointing out the "Bearishness" of the set up), instead of Breaking Down, it sure looks like this Bull still has quite a few more tricks up it's sleeves.

Have a good & safe weekend !

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