NYX Bounces off $90!

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:

NYX 111606.JPG 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?

More on this topic (What's this?)
NYSE Group, Inc. (NYX) (Short-Term Trading, 11/30/06)
NYSE Hybrid System (Short-Term Trading, 10/5/06)
AA Value Fund Update (Margin of Safety, 1/2/07)
Read more on NYSE Euronext at Wikinvest

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-- Posted by Blain Reinkensmeyer on November 16, 2006 at 10:21 am --

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Comments on "NYX Bounces off $90!" are closed.
Comment by fred
2006-11-18 18:09:16

What do we make of cramers bulish comment about the NYX
Yes/No ?

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