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Posted by scott@kungfutrader.com on May 20, 2008, 11:58 pm
Hi gang, been a few weeks since my last post, been working on a few
new projects and focusing more on the stock market. But, the futures
will always bring me back!
The stock market had a weak headline number, with the Dow 30 off
nearly 200 points today. But, the underlying market was not nearly as
weak, and most of the strong stocks closed near their highs for the
day. With that in mind, I like the ND100's set up for a decent day
trade on Wednesday, or even a nice short term swing trade.
One quick comment regarding July Cocoa...watch out for a break below
2555...should take it back down to the early April lows if you get
that break.
One interesting point worthy of discussion here. I found it
interesting that Bonds were up nicely today in the face of high PPI
numbers, strong Crude, strong Gold and a weak Dollar. Doesn't make
much sense to me, but I learned along time ago to try and not make
much sense of the markets!
Good trading!
Scott@kungfutrader.com
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