Breakout

The market has broken out and I suspect this will finally get market participants bullish. It could take some time but a short side trade is finally within view. 1130 on the S&P 500 seems like a decent risk/reward entry point.

6 comments:

Anonymous said...

I would caution the short traders here. IMO the down days will be short and quick. I think dips will be bought for the next 2 weeks. Then we might get a better pullback of 3-4%.

That is unless we get more noise from Europe.

Anonymous said...

Dawg,
March 1, 2010 (FinancialWire) Direxion said that it will execute a one-for-10 reverse split of the shares of Direxion Daily Emerging Markets Bear 3x Shares ETF (NYSE: EDZ) for shareholders of record after the close of the markets on Wednesday, March 3, 2010. EDZ shares will begin trading on NYSE Arca on a split-adjusted basis on Thursday March 4, 2010.



Source: Direxion Launches 1-For-10 Reverse Share Split Of ETF | Business & Finance News | Stock Market | equity | Investment

Anonymous said...

You want to see a good looking chart.

PAY keeps going up.

nicasurfer said...

Thanks for the information dawg on EDZ

Tsachy Mishal said...

I am not advocating shorting right here. I am looking ahead a bit.It would be nice if we could get past the employment report and Greece sells bonds. Then everyone could breathe a sigh of relief and I could go short. If bad news on the employment report is bought we probably get a Turnaround Tuesday next week. I dont think this rally lasts 2 weeks more.

Anonymous said...

oH SHIT.

i BETTER GET OUT OF EDZ TOMORROW.

HAHAHAHAHAHA

YOU KNOW ANYTIME THEY DO A REVERSE STOCK SPLIT ON A STOCK IT MEANS IT;S A POS