So like today the 3 x got 24% off the lows TNA 3X SSO 2 X
12/5/08
Note I am using the 2 X and 3 X to trade these moves
So like today the 3 x got 24% off the lows TNA 3X SSO 2 X
FYI
USO -5.5% XLE -5.7% XLE is about to bust 2 month support under 40
XLE move below 39 should send this market to new lows if and when. 40.75 now
XLE move below 39 should send this market to new lows if and when. 40.75 now
Happy Friday
SPX PM down 2% on Job loss report worse than expected -500 k expected -552k actual
Umemployment now 6.7%...not good for a consumer economy
Need to see what of this is baked into the market. SPX chart ranges today, should open down toward the lower range and bulls need 820 to hold.
12/4/08
USO -6.5%
wow... 35.37 low
XLF +3.5% helping offset this drag on the s&p
Auto's are the wild card, if they go Chapter 11 with DIP financing from the Gov't, you can say goodbye to the common stockholders ect
Watch for 876 on the S&P for a new upside blast off
XLF +3.5% helping offset this drag on the s&p
Auto's are the wild card, if they go Chapter 11 with DIP financing from the Gov't, you can say goodbye to the common stockholders ect
Watch for 876 on the S&P for a new upside blast off
Market acting tough here
SPX showing a flag... should run up to an over 70 RSI and then we need to see if it can breakout. Need to watch later for a breakdown to the lower trend line. STO is in a strong up pattern now for the next few hours.
12/3/08
Subscribe to:
Posts (Atom)
Posts
