bottom reached, page-2

primaus72

I am not bailing from my short position just yet!

The XJO has had an average true range (ATR) of about 95 points over the past 90 days. The ATR, in the case of the XJO, is the difference between its High for the day and Low for the day expressed in points. 95 points is quite volatile – it’s a 1.59% range for the day. Todays ATR to the current time is 121.2 points – above the usual volatility but nothing special.

A Close of one ATR(90) above Fridays Close will get my attention (this would be about 6076 points.) XJO trading two and a half times ATR(90) above todays Low will see me stopped out (currently calculated at 6142.2).

I think we will see plenty of rallies and retreats of 100 plus points while the credit market and US recession fears linger. Oil over US$90 bbl doesn’t help either.

Cheers

-HBG

---

Trade the market you see - not the market you hope for!