Wednesday, June 10, 2009

New trade plan for tomorrow (6/11)

1) Expecting a lower open/pullback at tomorrow's open
2) Will load URE/FAS if the expected pullback happens. The comfortable loading prices for me are URE: $3.8-$3.85; FAS: $10-$10.1
3) The stops for 2) will be today's lows, if you wanna set stops. (I may stop out positions according to what my system gives me, like cut URE positions this morning). But surely prices lower than today's low would let me pay more attentions to and carefully review the market movement.
4) If 1) doesn't happen (open high and go higher), buy on breakout with tight stops.
5) The Pivot Trend System confirms a BUY signal at today's close. Will see how that plays out.
6) This plan is for short-term play only.

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