OK, indeed nowadays every first OR breakout failed. now let's see this reversed OR breakout (the 2nd try) can fill the gap or not. so far not bad.
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ClarkW wrote:While SPY -0.58% today, $BKX quietly +0.27% and appears to be starting 2nd leg up today imo
I am shorting FAS, so long I still get LL I wouldn't bet anything will change soon, without financial help today SPX would have been with RUT/IWM already.
Follow the money.
Went long at 10:20AM after bkx broke above yesterday trading range.
TraderGirl wrote:Looking at sp, they are made up of a lot of financials, which are holding up compared to Euro banks, Credit Suisse, Deutsche Bank and Banco Santander all down 6-7% today, and have all broken their triangle support, while US Banks have held up, wonder if that is a sign of things to come, thinking of some FAZ...
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BlondU wrote:Cobra how come INDU is so weak and the others indexes are not? isn't INDU supposed to lead the market?
One day doesn't mean much, so don't read too much over it.
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My Primary count has it likely we ended the correction today and will head WAY higher with a big NFP day tomorrow. On the flip side we could have one more leg down to fool Bulls and trap Bears before we try much higher.
I like the way individual stocks are moving now that volatility has settled in the low 20s. There are a lot of great opportunities out there both long and short so I suggest whatever index analysis you believe strongly in use it to trade a stock over the index. My guess is the S&P will stay between my blue and green lines the rest of the day with a bias to the upside.
lol. Looks like we have to use the "ignor" button when noobs try to tell people who have been trading for years how to trade. Had to say it. Thanks for updates chartists.
"The only way to get a real education in the market is to invest cash, track your trade, and study your mistakes"
lol. Looks like .... Had to say it. Thanks for updates chartists.[/quote]
BTW
Look at % increase in PLW laddered treasury shorts. WTF?
Can u explain that?
That thing is thinner than a model
Your link http://online.wsj.com/mdc/public/page/2 ... 022#shortB
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.