Wednesday, 28 December 2011

28th December

FTSE had a strong morning after an early spike down to take out some stop losses. It found support around 5500 and is consolidating around 5540 as i write.

Placed a long order on the Dow for this afternoon in case of a pullback. It is unlikely to reach the open price but i won't lose any money if not. I do expect a little spike down close to Dow open or soon after.

1 - order Dow long @ 12265.  Stop @ 12239.  Target @ 12384.

Risk reward = 4.5ish/1

2 - been away for a few days and noticed i was stopped out of this one for 26 points, never mind.

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