iBankCoin
Joined Jan 27, 2008
7,297 Blog Posts

UNP: Breakdown

[[UNP]] Closed below the 50 day MA, and falling through support @ $121.

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Doomsday Scenario

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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