Friday, July 30, 2010

Call Me Skeptical - TNA

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It's five minutes before the market open this TGIF morning.  Futures point to a terribly negative opening and the SP-500 will gap down some 10-12 points on a weaker than expected GDP number just released.
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Usually the best way to play these "emotional" events is trade opposite their direction.  In this case, buy long.  So, call me skeptical that this opening drop holds.
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On this TNA chart I have drawn the lines for the battlefield.  Perhaps I will buy some today.
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Click on the chart to ENLARGE

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