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November 1st Buy Shows Profit

Thursday, 03. November 2005

1207.25 ES buy is meeting resistance at 1218.75 which is an extreme on our chart.  Partial profit taken at 1217.25 for a 10.5 point gain on 1/2 of the position. There is no support above 1207.25  entry so we would put all profit at risk or even a loss if we hold the position.  Stop will be moved up to 1210.25 on the remaining trade.

Greenspan is speaking today with jobless claims, ISM, productivity, and factory order reports being released today. This will make for a busy news day which could make for extreme volatility or a sleeper while the market sorts out what it all means. Make certain stops are in place and enjoy your day.


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