SPDR S&P 500 (SPY): Gleno..I agree that oil coming down is a...

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Re: GLENO34 post# 56139

Wednesday, 07/23/2008 5:42:04 PM

Wednesday, July 23, 2008 5:42:04 PM

Gleno..I agree that oil coming down is a huge force..also some of the banks that were predicted to be a disaster, are proving to be something less than that. Those are two things that have changed the direction of the market.

The point is..when the trend changes from an extreme..it often gains momentum. There is no one on this green earth that can forecast correctly when the trend will run out of steam and turn down again.............sure, it will happen..but until then the easy money is on the long side and if you get a successful short scalp, you will probably lose the next one.

Just click on the link for a 10 second look, and you will see what is happening in the mid-caps.

http://stockcharts.com/h-sc/ui?s=MVV&p=D&yr=0&mn=6&dy=0&id=p88941874661&a=145274664&listNum=1

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