I’m watching the 50 day average, currently at $108.45 on the SPY, for support. Today’s action was healthy, with light volume. I fully expect a run to $110.50 within a week, but I think we go a little lower first.
By the way, 9 out of 10 short setups posted on Friday are in the money, but I wouldn’t be letting any grass grow under those positions.
The mean-reversion system I wrote about the other day is short from Friday’s open and has not yet received the signal to cover.
As you were…
I can’t help but like what’s going on with the Power Dip right now. As soon as it stopped picking stocks the market went down.
As I haven’t been doing this long enough to know whether this will happen on most pull backs, it’s sure working like a charm right now.
It’s making me also wonder if perhaps we could use the Power Dip to tell us when to short the market, i.e., when it stops producing picks, it’s the time to short some stocks.
I definitely plan to watch to see if this correlation repeats itself in the future!
http://www.fuckthesouth.com/
just passing this along … no offense intended
It’s offensive. Typical uneducated liberal rant. Fact… what states are in the most fiscal trouble? Yep, all blue states. That liberal agenda sure is a budget buster.