Dow Looks to Make Another Run Above 13,000

February 24, 2012 Scott Redler

US stock futures point modestly higher Friday, looking to engineer a close above the psychological Dow 13,000 level. Earlier in the week the index pushed above that level but couldn’t hold, which is not unusual at the first pass. Bears could be heard calling a double top, but a strong close today would shut the door on that interpretation of the action.

We have been unable to get any follow-through to the downside, with bullish composure remaining intact. Crude oil continued to run higher as tensions rise in Iran. The government is pushing back against further international monitoring of nuclear sites.

Disclosures: Short AAPL

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About Scott Redler 367 Articles

Scott Redler is the Chief Strategic Officer of T3 Live. He develops all trading strategies for the service and acts as the face of T3 Live. Mr. Redler focuses on thorough preparation and discipline as a trader.

Mr. Redler has been trading equities for more than 10 years and has more recently received widespread recognition from the financial community for his insightful, pragmatic approach. He began his career as a broker and venture capitalist where he was able to facilitate relationships that led him into trading. Beginning his trading career at Broadway Trading in 1999, Mr. Redler moved on with Marc Sperling to Sperling Enterprises, LLC after establishing himself as one of the best young traders in the firm. As a manager at Sperling Enterprises, continued to trade actively while working closely with all traders in the firm to dramatically increase performance.

Mr. Redler has participated in more than 30 triathlons and one IronMan, exhibiting a work ethic that also defines his trading. His vast knowledge and meticulous attention to detail has led to regular appearances on CNBC, Fox Business, Bloomberg, and he is a regular contributor to Minyanville and Forbes’ Intelligent Investing blog. He has been quoted in the Wall Street Journal and Investor's Business Daily, among other publications.

Scott received a B.B.A. in Marketing/Finance from the State University of New York at Albany, graduating Magna Cum Laude from Albany's School of Business.

Visit: T3Live

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