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Registered User
Joined: 10/7/2004
Posts: 2,181
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DJ-30, SP500, Nasdaq, BGU, FAS all are below the LR30. VIX, VXN, BGZ, FAZ are all above LR30 and near LBB20.
Time to be exiting longs and/or setting very tight stops.
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Registered User
Joined: 10/7/2004
Posts: 2,181
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Look at the charts of the DJ30 and the Naz, granted they are not cup and handle (no flat bottom) but, similarly, look at the way the handle is drifting upward on slimming volume.
A rather bearish look.
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Registered User
Joined: 10/7/2004
Posts: 2,181
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The market is doing its best to turn around from the looming drop and keep moving upward, Indexes look like it's struggling to go higher.
I'm surprised but I keep tightening up my stops on my longs and most of them keep climbing anyway.
Portfolio up another 15% this month on long positions....
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Registered User
Joined: 1/30/2009
Posts: 267
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Yea. I am thinking the same thing. The bulls and bears are having one hell of a battle. The S&P closed above the magic 875 level but not very convincingly. So, I will hold my short positions a little longer. I am really hoping for a big break to the downside (sorry to all you longs).
O.K. everyone, here is my contribution to this forum. I am short and I seem to be always wrong so........
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Registered User
Joined: 8/15/2006
Posts: 132
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Although all my indicators (including time and price) have me sidelined for anything longer than a day trade and the idea that everyone has been expecting a "turn" in the market has me not entering any short positions for longer than a day trade also. The market seems to prove the majority wrong.
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