Trading Day: THURSDAY – December 23rd, 2010
Again? Another new yearly high on pathetic volume. As I read e-mails and browse twitter I scratch my head at why some people try to squeeze a few nickels out of the markets during very low volume times…like today? One of the best quotes I have ever heard is…”If you don’t have your game by the time you get to the course, you won’t find it there.” – Ben Hogan.
Obviously Ben knew what he was talking about and when it comes to trading if you don’t have your profits booked for the year by this Christmas…you’re not going to find any now!
I am expecting Thursday’s volume to be as bad as Wednesday’s. Keep your powder dry…Please let me say that I am not one of those TV pundits with the crystal ball like we see so often…I am a trader and I trade what I see… but this market is feeling like a house of cards. Like I’ve said before if we keep drifting up on this volume the first week in January could be fun. Have a great Thursday!
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EMISSTRADE END OF THE YEAR SPECIAL: 2 for 1
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TRADE LESS – EARN MORE
SHORT TERM TREND: BULLISH
LONG TERM TREND: BULLISH
TARGETS NUMBERS: ESH1
1259.00 - Area
***1255.00 – YEARLY HIGH
***1255.00 – Yesterday’s HIGH
<<<1254.50 – CLOSE>>>
***1250.50 – Yesterday’s Low
1234.00 - Area
1225.00 – 1226.00 Area
1220.00 – 1222 Area
***1214.00 - Area
1189.75 – 1191.50 Area
*** - Area could provide Major Support/Resistance to price
There is a substantial risk of loss in trading futures and options. Past performance is not indicative of future results. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any securities or commodities. EmissTrade.com, its officers, directors and its contributors may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction. There is a substantial risk of loss in trading futures and options.