Against the backdrop of credit and financial negatives emerging from US markets, we predicted (see orginal prediction in the last post below and also on http://www.fool.com/ in the day trading section of discussion baord)):
"Even as volatility continues, profits are likely to made by going long (buy) in first hour of trade and profits are likely to nearly maximized ( approx 1.30-2.30 pm) as main indices are likely to hit a intra day high between 1.30-2.30 pm (approx) and that is when a sharp and possibly temporary fall is likely .Trading strategies for today1. Go long on main indices especially DJIA in first hour trade ,if as is likely DJIA opens negative.2. Go short around 1.30 -2.30 pm on any peak formation in chart with trailing stop loss"
Review: The market behaved as predicted and good profits would have made quite certainly on the first strategy though peak of the day occurred 30 minuets before the predicted time period. Going short (sell call) in the recommended time period ( when market slipped again) would have also given decent profits.
Starpundit
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