Trades/Orders (End of 7/26/10 session)

One trade:

Sold YMU10 @10,444, covered @ 10,412; P&L: 32 points.

New orders:

Sell YMU10 @10,494 with 10,511 stop and 10,462 take-profit.

(Daily R1 pivot point is 10,504; 10,500 possible psychological resistance)

Sell YMU10 @10,544 with 10,561 stop and 10,512 take-profit.

(Daily R2 pivot point is 10,551; weekly R1 is 10,537 )

[ For some background and a disclaimer, please read this post and especially this post. ]