The market was slow today ahead of earnings numbers coming out tomorrow after the bell (CSX and INTC) and economic data on Wednesday. But, if you didn’t believe the market could breakout over the Lehman gap today, it turned out to be a pretty good bet to fade the pre-market run up and take profits [...]
I added a position on the selloff this morning.
The 5-year chart looks pretty good. There is support in the $31-33 area and RSI 20 has been a good place to buy STJ on the 5-year. I added a medium size position at $33.40. So far so good.