Monday, May 4, 2009

Next?

Hello Traders,

Next? Meaning what next for the markets?

Strength showed up today as many stocks continued their surge.

APPL had a nice surge after consolidating.
WFMI did the same

A previous leader, HD had trouble and seems to not like being above 27. If we continue to surge, it should be dragged up as well.

Dow has resistance and the 200 dma around 90 - clear sailing ahead?

Look out for the economic calendar - unemployment on the horizon.
Are we due for a better than expected report to fuel the rally?

Remember your risk to reward and your overall trading plan - you must manage the trade from entry to exit.

Happy Trading
Trader B

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