Friday

Dow Target

Post a Comment February 5, 2010 – 1:22 pm |   | Permalink |  Print This Post |

For bears who stuck to their guns instead of being stopped out like us should take some profits. Bad numbers last night, with unemployment numbers due in 10 minutes and a futures that is negative seems too predictable. The best thing is for an acute over reaction to “bad numbers” - taking the Dow to our initial target of 9880 (conservative), probably lower. This will be followed by a recovery. So if you are short heavy, definitely take some profits. Put a stop on the rest to protect yourself.

Update:

We closed $40/pt US Tech shorts at 1745 (1889) = profit of 140 points x 40 = $5600