For me its a counter trend trade - scalp and gap play. Thats why its only a quarter position. Looking for a reversal at 10:00 for a 10 to 20 point target.
What's with me anyway? I never look at the daily charts! There's also an upsloping trend line providing support in addition to a horizontal support level. The bullish percentage index for the Dow is 73% and rising too.
PLEASE BE CAREFUL JMOWERY, UR MENTOR ? WHAT'S UP WITH THAT REJECTION OF MENTOR? DON'T TRADE REAL MONEY YET PLEASE........CALL ME MORE NAMES IF U WISH, BUT LIAR AND LOSER ARE EXTREMELY DISREPECTFUL....CHARACTER IS VITAL......VOLENTE IS BAD FOR YOUR TRADING...HE IS A GAMBLER WITH NO RULE BASED SYSTEM.......THIS BUSINESS WILL MAKE A LOSER OUT OF YOU BEFORE YOU CAN SAY "SCAT PORGIE". BUT, IF YOU R A MAN YOU WON'T BE A LIAR ESPECIALLY TO YOURSELF WHEN U DEMO TRADE.....WOULDA, COULDA, SHOULDA WILLA RUIN YOU..........MY NEIGHBOR WAS JMOWERY CLONE AND HE LOST $4500 FIR ST WEEK ES TRADING WHILE I BEGGED HIM TO BACK OFF AND EASE INTO IT...BUT, HE FOUND SECRET STUFF ALSO, AND WAS ADDICTED AND CONVINCED HE KNEW WHAT OTHERS WEREN'T SEEING.....AND WHEN HE SAW THE MULTIPLE CONTRACTS SCENARIO, HE WENT INTO A PANIC TO TRADE..... .TELLING ALL OF HIS DISCOVERIES AND HOW MUCH HE WOULD MAKE WHEN HE STARTED.....GREED KNOWS NO FEAR..... ..WHEN HE WIPED OUT HIS 5000 AND A FRIEND'S 10,000 HE QUIT AND BLAMES PORGIE WHO TOLD HIM WHAT I AM TELLING YOU....GIVE IT A COOUPLE OF YEARS AND A FEWTHOUSAND HOURS AND THEN TRY REAL MONEY....I MEAN TIME WITH EMINI'S....OTHER TYPES OF TRADING EXPERIENCE IS WORTHLESS.......AND NOT GOOD FOR JMOWERY....CHEERLEADERS HERE DON'T TELL YOU STRAIGHT....SOME DON'T CARE AND SOME DON'T KNOW ANY BETTER......GREED KNOWS NO FEAR.........