Huge up day, didnt think the SnP was gonna break and close above 1100 for awhile but it sure did. some resistance at 1105, then 1125 - 1140, then 1170. It has completed a 50% bounce so far. 61.8% is 1118.
Lots of buy signals today but quite a few are showing long term bear trend therefore not taken:
IT (bought today)
FAA (L/t red - not taken)
WLT (l/t too red)
JAS
SKS
CMCSA
MJN
LCAPA
TCK (l/t too red)
DGP
CCJ (l/t too red)
VIT
RAX (L/t too red)
INCY (l/t too red)
WSM
I only have room to take a couple of these. None of the bearish ETFs have got a COD stop order yet .. so I guess I will be riding them up for a while.
marketguru.com was down all day, except for early morning. didnt matter, I only have half a position in TZA and TWM and plan on filling out the remainder when the market has stopped going up. I will probably use the 60 min charts to find an entry, unless they are stopped out before.
Thursday, May 27, 2010
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