Buy the pullback or short the rally?
John F. Carter 1/31/2012
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John traded the close in the live trading room, it was a pretty choppy day. Going into the close, John bought the initial pullback but didn't take profits after the move, but instead tried to reach new highs on the day. Into the close, John was watching the $tick. There was a good pop early on, but then it turned against him with -800 $tick readings. He managed the trade and exited with a small profit before the close. He could have made more into the close, but he was managing a trade, not extending profits. John is also in an options trade in Apple. He is looking for it to break through the recent highs and see if it will be about a four point move.
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