Replies to post #5778 on Strategy Central

[kenwong]

2X-Be-Me: re More Downside Ahead

Last bounce was when the S&P500 (or SPY) reached the 200 SMA. Could head there again to retest.

Here's SPY's chart ... http://stockcharts.com/gallery/?SPY ... you can see the 200 SMA bounce pretty clearly.


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Posted by: 2X-Be-Me
In reply to: farooq who wrote msg# 5771 Date:5/30/2006 1:56:24 PM
Post #of 5778

farooq, my charts indicate there's potentially a lot more downside ahead. Your charts, however, must be indicating the bottom has arrived or soon will. Would you be willing to share your thoughts on why you've gone long? Thanks. 2X

[farooq]

Sold @ 1269.50, I was playing short term S/R. Now flat.