Two days in a row prices have been rejected at the 1204 area despite all the problems surrounding Katrina and oil, etc. You have to think that the market is trying to setup a short term rally here back to the top of the down trending channel. That's what I'm thinking as I view the early morning futures. I'm hearing oil is pressured due to the release of some of our reserves. That may also contribute to the move.
The Daily Dose of Trading Comments
Here you'll find short quips concerning the market mood and direction posted intra-day as the market dictates and time allows. You can find TATs strategy here. Comments here are from a trader who trades for a living.
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