Wednesday, April 22, 2009

BGZ Trade Update

Unless the market turns south almost immediately, it looks very likely that the BGZ trade will be stopped out at breakeven. However, given everything I've covered the last couple weeks, I would still be interested in getting back in the trade at the next short-term overbought signal, if it is at a lower high than last Friday's.

The short-term model is working its way back toward the overbought region, as are standard technical indicators like stochastics (60 min chart, 30 min is already overbought). So blog followers may want to check back in the last hour of the trading day, as I may post a trade if the current trade gets stopped, but things look suitable for re-entry.


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