Monday, August 17, 2009

Day 6, $19,961

Market had a pull back today with the Dow down 2%, Nasdaq down as much as 2.75%. Pull back was based on global news, Japan reported having slower than expected growth. Stocks moved back and traded relatively flat the rest of the day. Bullish trend is not over, but nearing resistance levels.

NTES trade is looking good so far, no changes. Stock is at $40.21

NYX had over 5% drop today. Stock is at $27.11, down $1.50 from yesterday. Technically it is sitting right on its 50 day ema. The trend is still bullish, but if it breaks that level of support, I will be considering adding some protective puts. If the support holds I will probably be looking into getting into either a bull put or a call calendar position.


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