Intraday Commentary ~ 11/19/2009

4:30 pm update:

woo1month

So we stopped at the next bit of fibs at EOD. the reason why i recommended pulling out half profits at 1096 is because there is still a chance that we could drop. this way you lock in profits, and if it falls, you can buy back in, but if it rises, you still have a good position on a decent number of shares. On an opex week friday, there’s too much risk, and decay will affect even december options strongly.

Original post:

Looks like the market is going to open lower. Will have to see exactly where it opens to see if we’ve had any real significant places broken or not. Top action is always a little more difficult to make short term scalps off of unless you’re really careful.

trend line at 1102 needs to break.

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