Thursday, March 19, 2009

"I got a New Deal in Mind.  Can We Split the Difference Like They Do in Washington?"
2D, 15m. - Mar. 19th. - There was Gap up in the AM that came off of the Fed move of Wed. to support Treasury Bonds, etc.  We then had a slow fade downward with two trade opportunities to short using the 15m. Double Tops as highlighted by Gold Spots.
5D, 15m. - Mar. 19th. - Windsock contained all activity of the day.  The lower support level was not seriously breached and apparently held up at least for the moment.  The Windsock remains Bullish.
10D, Hourly - Mar. 19th. -  The Hourly provides an element of security and reassurance as to market activity and stability as opposed to 5, 10,15 minute time frames.  Anxiety can be calmed by checking on the Hourly.  In this case we can see where the support of the Bull Potato is threatened at the close.  Tomorrow, as always. will be interesting.
3M, Daily - Mar. 19th. - Bull Potato Day 8.  The last candle ended in the Red closing at the low of the day.  Friday's activity will help determine the state of the Potato as we head into the weekend.

Potato Trader