A Catalyst Day in the Market. Is this A real Breakdown? Or a Bottom?
Nov 21, 2008 Small Cap Stock Picks, Stock Market News
Hey everyone, not too bad of a session Thursday as we went long in 4 positions on a some 400 point downside day in the market and came out on top. Technically on the daily chart Thursdays move signaled a huge bear signal breaking down from its descending triangle. But what have we been a huge witness to lately? Thats right false breakouts and breakdowns. Currently as i’m typing this newsletter at 12:30 am pst here in San Diego Dow futures are up 265 points indicating this could be yet another false breakdown and Friday could be a big short squeeze. Yet i’m not gonna act like a have a crystal ball here saying whats gonna happen tomorrow, that would be silly yah? This current market environment swings all over the place and we’ve seen the DOW move hundreds of points in minutes on a regular basis. Who would’ve thought we would see the day? But we are seeing it. We’re living it and breathing it daily and trading our way through it……..Lightly and conservatively i might add. Tomorrow looks to be a catalyst move in the market as we are either continuing this breakdown to 2002 lows near 7200 or the market is gonna bottom…. I’ll study my tarot cards tonight and see what they say
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Tags: DOW














