BOUGHT +10 SKF @96.70

[caption id="attachment_246" align="aligncenter" width="500" caption="SKF"][SKF][][/caption]

Upside: MACD, Stochastic, and Money Flow positive divergence on last Friday's low. Also, with recent ban on shorting financials, SKF is one of the few places for shorting financials. Basic supply and demand means an upside outlook on its price.

Resistance: Round number \$100. Then congestion at around \$110.

Downside: Recent ban of short-selling is creating a lot of uncertainty in inverse ETF's. This is a major concern in this position. Thus I've only entered a small position and used a hard stop into the system instead of using a psychological one just to be safer while I'm away.

Support: Last Friday's low of \$87.

Target: \$110

Stop: Working order at \$83

[SKF]: http://traderpau.files.wordpress.com/2008/09/2008-09-22-skf.png