Swing Trading Report Tuesday, October 27, 2009

By John Crane
26 October 2009 @ 06:32 pm EDT

December Dow Jones - Long from 9960 - Dow Jones futures fell, erasing an early rally, on concern the government will phase out a tax credit for homebuyers. The market was also pressured by news that Bank of America Corp. will have to sell shares to pay back its government bailout. The early session rally quickly vanished and the market turned red as massive profit taking sent the Dow Jones futures to a low of 9793. The long position was closed at 9825.

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