Monday, October 24, 2011


I've been watching a trade for several weeks and yes, there is part of me that regrets not playing it as it move exactly to the level that I felt would be a compelling area to short.  In effect, missing out on the move higher has actually been good because I've had to remain committed to trading the Market Vectors Indonesia etf according to the plan I identified weeks ago.

We are now very close and therefore I have begun positioning in the name for a pullback.
I believe IDX will encounter some significant resistance at $30.50 and will then turn lower to the $25.00 level.

Update - I am close to being stopped out of the INTC short trade, but will continue to hold until taken out.  As good as this morning looks, there is always Turnaround Tuesday to being the market back to reality.


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