DJIA falls off by 400+ and wipe out USD 600 and now FKLI down for another 43 pts at 10.30 pm.
The ATR is 13 pts which mean stops are around 25-30 pts per contract. Too much to stomach ! Then stay out of the market until calm restored to determine the next course of action.
The uptrend will be considered broken if we have 5-6 daily bars down. It has registered 3 bars
Wednesday, February 28, 2007
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