Let’s Go Long – November 15, 2011

[nickola.pazderic]

From Andrei's link:

Overall Conclusion: The bears again placed bets to profit from a sell-off, and again, barring solid selling pressure the rest of the week, they will lose. Flat trading between now and Friday’s close would cause lots of pain. However, a slight move up would cause even more pain.

Luck be a Lady

[nickola.pazderic]

for what it is worth, a chart:


Attachment 11420Attachment 11420

[hgsfan]

Please excuse my ignorance but what does DPP stand for? thanks in advance

[hgsfan]

I take that DPP means Daily Pivot Point? Thanks in advance

for what it is worth, a chart:


Attachment 11421Attachment 11420Attachment 11420

[Billy]

I take that DPP means Daily Pivot Point? Thanks in advance

Yes, that's correct.
Billy

[nickola.pazderic]

Again, in the for what it is worth department.

[nickola.pazderic]

Resistance at DR2

[Billy]

Attachment 11423

Resistance at DR2

Most important for the trading plan is the easy passing at the first speed bump, weekly pivot (73.28). We now have gained one more support and can relax as long as it holds.
Billy