Interdum stultus opportuna loquitur...

Tuesday, August 24, 2004

Shift Stop to Breakeven (1096.50)

Note - from June 24th 2009, this blog has migrated from Blogger to a self-hosted version. Click here to go straight there.

There is some real shenanigans going on at 1095... someone is buying whatever is necessary to prevent 1095 from breaking (by "breaking" I mean getting to 1094.75 on the offer; 1094.75 has traded, but only from nuffies selling into the bid).
This might be an attempt to get the Dow back over 10100 for the close. Either way, it's prudent to shift the stop down since the iitial stop is a little too far away (it's 3 points up to the initial 1098 stop, and only 3 points to the initial 1092 target... risk-reward is not good).