Mar 14 2008
Today’s Trading Look-Back – March 14, 2008
Today was crazy. No doubt about that!
The reference points were pretty each to pick out. Starting at the top, there was 1334, which was the level above which prices were rejected on Wednesday, having also been an old point of control as well. Speaking of points of control, 1326 was Wednesday’s and 1295 was Thursday’s. Further down, 1283 was Monday’s point of control, from which prices bounced Thursday, then 1275 was the level above rejection lows from earlier in the week.
Where you could have gotten in would have depended on when you did the trade. It would have been possible to sell 1334 in pre-market action, but it would have been 1326 after the bell. After that it was just a question of how long you could have held on, or whether you could have gotten short again on pull-back as the market declined 50 points from the high.
Here are some other posts which might interest you:
