DOW Update

Hello all,

Since the volatility is likely to pick up this week, I'm not going to let my profits on this DOW trade evaporate before my eyes. So, in order to protect myself and my profit, I'm placing a protective stop at 13851 which is 3 tics above today's intraday high. The way I see it, if the market does make a new intraday high, the odds of the market continuing higher increase significantly on the breakout. I refuse to fight the market at this point because the trend is still very questionable and the volatility, as I mentioned earlier, is likely to increase over time. Also, there are still a lot of traders holding on to their "wishing and hoping" that all is right with the world and they'll be waiting to jump all over a breakout to the upside.

Dale F. Doelling
President and Chief Market Technician
Trends In Commodities