Friday, October 30, 2009

Hesistation

I hesistate to get long unless we really selloff deeply because I saw how giddy traders got off the GDP numbers yesterday.  That kind of giddiness isn't usually dissolved in 1 day, although the Fast Money traders are bearish for the close, days like today usually don't reverse hard to the upside, so I will only wait for premium setups on the long side to buy, such a plunge down to 1025 on the ES.

I think weakness on Monday is a gimme buy setup so I am hoping for that.  For now I wait.

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