Replies to post #54470 on WEALTH UNIVERSITY

[jlev]

these have been two crazy days. I took a beating on BGU with two loosing trades when i though the market was bouncing. Ended up just being head fakes.

I would agree with you if we hit the 7000 level were due for a bounce. How could it not i mean something can only go down so much before the inevitable bounce. Just hard to know WHEN the bounce will come.

[Guardian]

I hope it doesn't go that low I do think we get some upward movement with opts expiring tomorrow.

every stock is due for a bounce as they are all over sold. SSO is probably one of the safer plays.

UTX seems to be a good buy also at these prices.

if we had 16 more days like today the dow would be 0

[bioscript]

I agree with your thinking. Overshooting to 6900 area will be nice if you are watching and can get long on SSO or BGZ on signs of strength.. I might be looking to do this, but I will be following closely and protecting myself with stops. If the market does swing I'll put in a trailing stop for sure to protect profit. I think the key will be watching the volume once we hit the 6900-7100 area. Large amounts of buying volume will be a good indication.