Monday, December 1, 2008
dia spy QQQQ qid stock future price prediction (DOW,SP500, NDX
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10:06AM: with NDX at 1135, we would take profits on short stock market positions.
Forex Trading (GBP/USD):
There has been a sell off of the british pound. We are starting to scale in for a short term trade as we think the selloff may lead to a reaction, and our analysis suggests we are in the area of a day bottom.
10:38AM: GBP/USD is at 1.4845. We should be in area of today's bottom.
11:02AM: GGP/USD made profits, then went against the position. Since it is now back to profits (GBP/USD is now at 1.4860), we will take the profits, and decide later on a restet of lows. Profits: 15 PIPS.
2:55PM: GBP/USD is now at 1.4940. We could have made 90 pips, we if help longer. We took profits on the position too soon, but we do not regret it. This should be a resistance however, and the price should fall. We will take to buy on retest of lows in area of 1.4800 if it retests it and failes.
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