Tuesday, June 8, 2010
Good Morning Stockhoppers, In my last blog I stated that the 13 day EMA was telling us a SHORT STORY here we are on Tuesday morning wondering if the major indices will find support levels. We have been this low recently, the major difference is that in the past when we got to these levels we ended the trading day up near the days high. Take a look at these index charts.
You can see that the indexes are poised to move lower and break major support levels. The floors are starting to creak and rattle. If it gives way we could be looking at a major windfall, freefall.... call it what you will. I hope you are watching your trades very carefully, and are not staying with the ole buy and hold strategies.
Today will be a very pivotal day. Stay Tuned and Chart Wisely Today!!!
Tuesday, June 1, 2010
Good Morning Stockhoppers, I hope you all had a good Memorial Day weekend. Well taking off from my last blog "Will We See Follow Through".....not looking so good lets get right to it and look at the Dow Jones and Nasdaq charts. Looks like this morning they are going to bounce off the 13 day EMA(Exponential Moving Average)and head south. This market is not ready to rebound as of the short term. Money to be made shorting? ....possible but be careful.
I have a small long position in TLAB which is currently in the black. This market has to tell me that it is ready to get back on top the 13 day EMA and stabilize a bit before I take on more positions. Again there is money to be made on these wide swings but tread very carefully and be patient.
Until next time Chart Wisely Today!!!