Tuesday Trading 10/11/05

The market is in a small range still and a break below 1190 will probably create another flush down on the S&P.NEW is below that 34.50 area,and not looking good on the weekly chart.I'm short right now at 34.29.Looking for a move down to 33.00 if the market breaks.Short term if it breaks down it may pause at 33.65 and 33.30 where there are pivot points,so I may cover down there.

Update: I've covered my NEW short at 34.00 looks like it has stalled out for now and got some counters down at 33.92 and up.I will look for a break below that to re-enter if I can.Also futures are holding up for now.

Update: I shorted NEW again like I said at 33.90, covered at 33.67. I need to see some more big orders move down before I short it again.