Check that, Dow Futures Drop 226 OUCH

  • Posted on: December 28, 2012

I just turned off the screen and made a few calls.  In the last 2 minutes of trade in the march futures, it took a 50 pt haircut. We had been down 180.  Finished down 226 down to 12,777, with a low at 12,766.  I have 12,740 as my next support.  We could see 12,799 or maybe even 12,500 if they whack this thing Sunday night.   Stay short my friends.  But make sure you have a buy stop above. And make sure its a buy stop.  Not a stupid  buy stop limit.   Using limits on your stops is counter productive.   When you need to get out, Get out.

CER