Today´s Market June 17, 2006

ndx1706

What a day!!! The market opened higher and kept going strong  only to retrace fast most of the upside before rebounding . At one point the NDX-100 was up over 45 points  at 2988, then it  sprinted lower returning 33 points  and closed at 2974. This week will be marked with a high degree of volatility as on Wednesday we will hear from Mr. Bernake. Continuing with our strategy, we shorted on spikes and were able to close our positions when it corrected, but must admit that at one point we thought we were going  home with a loss.  For the time being our prefered trade is short on spikes.

Today´s Profit: USD 480  (Portfolio Size 25,000)

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