Wednesday, December 5, 2007

Better Reaction

For Thursday:

As I said yesterday, the bear move Tuesday was unhealthy; Open Interest confirmed by coming in much lower - The Up Move Wednesday I suspect was a boost from long term money expecting the Fed to cut rates. I am still not expecting huge volatility before Unemployment is released Friday morning but my recommendation is trade with an upward bias for Thursday. Buy the dips when done on low volume - this is profit taking.

Thursday Reports:
Jobless Claims 8:30ET
EIA Natural Gas Report 10:30ET
Money Supply 4:30ET

Volume Weighted Pivot, Support and Resistance Numbers for Thursday: