Market Update for April Fools Day

9:25 UTC 01 Apr 2009 3 Comments

The Market is at a critical point today where it is trying to find its trend.  If it busts through we could see a big rally or we could see the start of a downward retracement.  Personally I have been waiting for this setup to start shorting more, but what are you guys thinking?  On the chart below I show the rally that we have had and the trend line for your information.  Thoughts?? I know its scary to actually commit to something online… whimps … ha ha.

chart 4-01-09

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Finance, Stock Technical Analysis

3 Responses to “Market Update for April Fools Day”

  1. Nicholas Lewarne Reply 10:05 UTC 01 Apr 2009 at 10:05 am

    Looks like we have a nice little lunchtime short squeeze going. Let see what happens when the big boys get back from lunch.

  2. Nicholas Lewarne Reply 12:52 UTC 01 Apr 2009 at 12:52 pm

    Well bought some SRS at the end of the day to see what happens. This market can go either way… either making a W formation and rally or rollover and make an ugly head and shoulders pattern, which would be negative.

  3. Nicholas Lewarne Reply 7:36 UTC 02 Apr 2009 at 7:36 am

    Well the market made its decision today to keep going with its trend, which is our friend, and will have to have some patience to wait for the next setup.

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