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Wednesday, August 25, 2010 4:37:00 PM
Thursday - hold short- 60 min 5,5 stochs about to turn down
Above 1060 SPX is a tradable long to fill the gap and that is a huge shorting opportunity with this counter trend bounce. Hold long only if we rally above the 1080 SPX which seems unlikely. The shorting at that gap is what I am all over. Nothing says hold any type of long position here.
Woo hoo in the chart, the cross of the stochs on the Woo Hoo always give a buy signal, but since the MACD hasn't crossed it is doubtful if any move is likely to happen. Anytime we have a cross of the stochs and MACD, there generally is a strong move up.
636
Above 1060 SPX is a tradable long to fill the gap and that is a huge shorting opportunity with this counter trend bounce. Hold long only if we rally above the 1080 SPX which seems unlikely. The shorting at that gap is what I am all over. Nothing says hold any type of long position here.
Woo hoo in the chart, the cross of the stochs on the Woo Hoo always give a buy signal, but since the MACD hasn't crossed it is doubtful if any move is likely to happen. Anytime we have a cross of the stochs and MACD, there generally is a strong move up.
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