ATI: Breakdown

Thu Mar 6, 2008 8:07pm EST 2

[[ATI]] Look for a breakdown below 73.46

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Thursday Night Links

Thu Mar 6, 2008 6:47pm EST 1

Bear Markets: A great chart from 2002

Markets come full circle

Heavy Metal

10 & 30 day moving average

Gio’s old favorite exploded higher today.

I now order everything in gold.

This has been the worst contest, only 9 positive performers out of 47.

Checkout the trailer for Floored

[[SKF]] spliff

The best candlesticks for shorting stocks

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Today’s action was expected given the importance of tomorrow’s data. We are now at a critical level, and I believe tomorrow’s report will determine the direction of stock prices for the next few weeks.

If I had to guess, I would say we break 12,000 tomorrow. Then, over the course of the day, it gets worse– mainly because traders will not hold positions over the weekend. We are truly setting up for a doomsday scenario.

However, bad news can be good news, as mother market plays tricks with the average investor. It could go either way.

My plan, I have significant downside exposure with a few short ETFs, but also have a few longs. I was tempted just to go 100% in cash a few minutes ago, but decided to go to war with my positions.

Note: If the news is positive tomorrow, I plan to load up on [[JOYG]], [[MELI]], & [[GOOG]]

Note II: We have [[BOOM]] & [[MRVL]] reporting in a few minutes, that should be interesting

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