Tuesday, March 06, 2007

A Beautiful Bounce

Well Traders, I LOVE, LOVE, LOVE when things I expect to happen, happen! You'll remember yesterday I mentioned the "Bullish Gravestone Doji" candlestick formation. Well, in order to be confirmed, I needed a gap up and a white candle today. Bada bing, bada zing, if that ain't a thing of beauty!

I feel much better going into the home stretch here. The MACD and STO are showing strength, and the Doji pattern gave my Iron Condor the boost it needed today. I am now $91 points to the bottom and it seems barring another meltdown, my best friend, Max Profit should be paying me a visit. Still plenty of time between now and then, and today could have been a "Dead Cat Bounce," but that being said, I like my chances on this one!

Happy Trading!

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