Thursday, October 30, 2008

Rally Caps

The market is showing strength here and the precipitous closing sell off has become a memory. When the market can go up on bad news it's usually a bullish sign and when they stop selling rallies, well, that's also bullish. Keep in mind that end of month is tomorrow so there could be some very bullish action brought on by the need to window dress. Good luck.

2 comments:

Tyler said...

Was following the SDS call on twitter. Did u get long once it broke 87 and failed? How far was your stop. I'm just trying to understand how to trade these ETFS, they are pretty hyper.

upsidetrader said...

tyler
i'm shut down for the day and honestly dont remember, but i've been trading off momentum more than price or chart level with all this volatility

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I am a former hedge fund manager, broker and capital markets dude who now trades for his own account. I love what I do. I will try to post some stocks and an occasional chart that looks attractive for entry.I will also try to point out the idiocy of conventional wisdom and the lack of value added by the mainstream financial media. These postings should not be viewed as recommendations.