Day 6
Strong support throughout session. During T+1 session, index dropped from high of 324.8 to around 323.0 by the time S&P futures closed. Could be due to Greenspan’s remarks that US could be in deeper recession this year, and also survey of economists indicates that recession increasingly likely in US this year. Initial losses due to stop loss orders being hit but turned losses into profit during T+1 session.
Above shows closing index price and prevailing DJIA. Could have made about USD120 more if buy back at this level. Don’t understand why those people supported the higher prices of 323.0 – 324.7 earlier on.
Updated : DJIA closed up 189 points instead ! Could that be the reason for the strong support the day before ?
Good job! Patience pays off!
What does “Position: Flat” mean? and what is “T+1″? Can tell me please?