** Pay attention to this option chart 05/05/09**

I have posted up a 20 day 30min option chart of the SDS 64x calls. This channel can be tradable if the S&P decides to give us a nice pullback. So you will be able to use this as your guide. I believe we will see a pullback and I also believe there was alot of panic selling yesterday which you can see from the SDS Candle stick on the chart below.Look at the channels. On 4/22/09 You can see how channel analysis worked and showed some tripple resistance. As I noted on the sidenote that it was heavy resistance and we needed to break through to the next channel. That didn't happened and we continued lower. Channel analysis folks we preach it and soon will teach it!!!

Option Chart SDS May 64x call


SDS DAILY