AbsolutionCL

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    Monday, February 28, 2011

    2-28-11 Monday




    Recap: Overnight inventories are to the long side, although as I write this, the Globex VPOC remains at 1316.75 ( 7:40 AM CST ). The profile seems to be a Double Distribution with a 1319 and 1322 area being the middle of the profile.

    Plan/Hypothesis: Expecting OAOR or OAIR. If we open above Friday's range, I will look to buy pullbacks as almost all of the days in the past that we have gapped up, the rally has continued for the day. If we open inside Friday's range, my bias will be Bearish especially if we break that 1319 and 1322 area.

    Quote of the day: "Whether fear is your friend or foe depends on whether you become it's master or it's servant."~ Dan Millman

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