Our long strategy worked very well and should have put you in the market near the low in front of River.
The market closed above the River level at 235.99, so short trades continue to be aggressive.
Long Strategy
If you are long, stay long. Risk would be an hourly close below 236.53 which should lock in some profit. Target is 238.38 where traders should take partial profits, then 238.87 where all longs should exit.
New Traders can look to set longs on a move down through 236.53. Risk would be an hourly close below River at 235.99. If this occurs, traders should exit. You can always re-enter if we move back above. Targets are same as existing longs.
Short Strategy (Higher Risk)
Traders can enter new shorts if we get a strong move down through River at 235.99. If this occurs look to enter on a push back to this level. Risk would be an hourly close back above 236.53. Target is 234.28 where traders should exit.
http://www.theviewdownriver.com/stor...y4-25-2007.PNG
The market closed above the River level at 235.99, so short trades continue to be aggressive.
Long Strategy
If you are long, stay long. Risk would be an hourly close below 236.53 which should lock in some profit. Target is 238.38 where traders should take partial profits, then 238.87 where all longs should exit.
New Traders can look to set longs on a move down through 236.53. Risk would be an hourly close below River at 235.99. If this occurs, traders should exit. You can always re-enter if we move back above. Targets are same as existing longs.
Short Strategy (Higher Risk)
Traders can enter new shorts if we get a strong move down through River at 235.99. If this occurs look to enter on a push back to this level. Risk would be an hourly close back above 236.53. Target is 234.28 where traders should exit.
http://www.theviewdownriver.com/stor...y4-25-2007.PNG