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Momentum Trading with RaginCajun

RaginCajun
Joined Jan 27, 2008
7,406 Blog Posts

The Move is Done?

RaginCajun Mon Sep 20, 2010 9:36pm EST 5 Comments

Funny how many people think the move is done. What are you going to do when $GS and the rest of the gang breakout?

We could pullback 50 S&P points and still have a healthy market. All day long I saw people step in to buy inverse leveraged ETFs in the face of a beautiful breakout, people are still too negative.

I will admit this move is unsustainable, but it is not over, yet.

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5 comments

  1. chessnwine
    chessnwine
    September 20, 2010 at 9:49 pm

    Indeud.

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  2. plato
    plato
    September 20, 2010 at 10:08 pm

    Earlier today I hated selling the majority of my TZA for a $2 loss and buying some solid long setups. I bet I sleep well tonight, however.

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  3. RaginCajun
    RaginCajun
    September 20, 2010 at 10:27 pm

    PPT MEMBERS, don’t forget to check out the small bomb screen, it exists for this purpose: http://bit.ly/9oJDQa

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  4. wabisabi
    wabisabi
    September 20, 2010 at 11:00 pm

    from the man who top ticked goog @ roughly 627 or so in a fit of bullish exuberance.

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  5. skayfe
    skayfe
    September 21, 2010 at 5:52 am

    RAX is going to lay down some hurt on those short.

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