Friday, March 5, 2010
Ugly Friday
Well this is all very sickening. Unemployment is still huge almost 17%, and the market is melting up some more. The RUS has broken out to the upside, which is devestating to my TZA, now at all time lows. NAS is also strong gainer, less so SnP and even less so the DOW. SnP is only at 1135, so its a bit away from previous highs at 1150ish. but the small caps are roaring and I am getting killed. My new systems are working quite well, with the energy, gold longs seeming to be right. Actually the gold miners cashed out at the profit target price. I am long a new one..KOPN. We will have to see how this one does. The chart looks good. broke out, then pulled back to the LRCs and now its launched another attack. at 3.88 now and resistance comes in at 4.16 then 4.60 area, then over $5. Almost a 20% profit potential. downside stop is at 3.70. The RL point on the SnP is at 1139 however, the 2sweeties have been no help lately. they keep talking about how overbought the market is and too late to go long, and probability is that it will go down.. yeah, right.
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