Monday, August 3, 2009

NG finds a buyer.

The spike this morning was at 9:04 and took 6400 lots of Sep. Since then we've been doing the usual re exploring of the range. Certainly it exceeded the C=A objective at 3.98 by 25%, still, I like that count. Risk , with the SP nearing it's target zone for this corrective rally, and the Euro and GBP exploring outer space, is prob greater to the downside. Recent spot highs at 4.58 would likely be very tough to exceed by much, while 3.15 seems very poss to re test.

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