By Stock Market HackerPublished: October 19, 2010Posted in: Stock Market CommentaryTags: Bear Market, ETFs
A quick stock market note: The FAZ (triple short financial etf) is down and the overall market is down. There is some strange disconnect there. We warned about churning in some recent post. We guess that with the financial leadership missing, the market could correct. The market needed a breather anyway. Tighten your stops and do not get complacent. We have not been stopped out of positions, however, there are some that are close.
Update 9:30 pm: We are officially changing our stance to bearish due to macro-economic degradation and poor market reception to today’s earning of Apple and IBM. In addition, we got a plethora of long signals on short etfs. The market is due for a correction and it will give us one. We got some good long signals on EOC and TLK but we will pass on them to see how the market behaves tomorrow.
For those who do not think that technical analysis works: look at our 10/8/2010 post…
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I am a dad, professional engineer, MBA student, and a financial fanatic. I can help you make money in the stock market. I use Fibonacci techniques for retracements and targets, technical analysis, some little fundamental analysis, and automated systems trading. I also trade options. In addition, I use CANSLIM to get neat growth stock ideas. No fluff and no BS.
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A quick stock market note: The FAZ (triple short financial etf) is down and the overall market is down. There is some strange disconnect there. We warned about churning in some recent post. We guess that with the financial leadership missing, the market could correct. The market needed a breather anyway. Tighten your stops and do not get complacent. We have not been stopped out of positions, however, there are some that are close.
Update 9:30 pm: We are officially changing our stance to bearish due to macro-economic degradation and poor market reception to today’s earning of Apple and IBM. In addition, we got a plethora of long signals on short etfs. The market is due for a correction and it will give us one. We got some good long signals on EOC and TLK but we will pass on them to see how the market behaves tomorrow.
For those who do not think that technical analysis works: look at our 10/8/2010 post…
Popularity: 2% [?]
Related Posts:
About the Author