NYX Bounces off $90!
Posted on Thu 16th Nov, 2006 10:21:22 AM
You may or may not recall the NYSE Group (NYX) Discussion yesterday on support lines for NYX. If not go read the post and you can note the $90 support line we had drawn. Well, NYX bounced off of this yesterday and ended up closing at $95.70! Take a look at this intra-day chart and see the support line in action. Chart is below:
Crazy how that ends up working out isn’t it? Now, if NYX heads towards this line again, we may not be so lucky. Typically the 2nd or 3rd time is when the support falls and you get yourself into trouble. Did you make this play for a quick cool 6% return yesterday?
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