Friday, August 27, 2010

Friday GDP 8:30 / Consumer Confidence 9:55

Opening salvo is a short off Yestercenter. We have a major downtrend, and this spike on GDP constitutes a minor uptrend, which is an ideal place to be looking to get short again. Behavior at the Pivot will determine whether I hold or take profit. If we can stay below 81 or so and keep the gap under 15 points, I will be looking for a gap fill down around 66 as first potential target.

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