Friday, December 5, 2008

hourly gap down and down hour to 825 key price at 11am

DOW cash 8149 is the line in the sand

10am hourly futures prints at 828.5/8210/1108 will define trending friday

seems recently down gaps are almost always followed by down hours

sold more call premium(870 and 900) and looking for he S&P to test 800 at the minimum assuming 813 breaks this morning

shorted an emini Naz at 1105.75

downside targets could be 775/7800/1050

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