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Jeff Pierce
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I’m a swing trader of momentum stocks with a holding period of anywhere from a few hours to a few months. I run a number of screens to locate the strongest/weakest stocks out there, using technical analysis to determine my entries and exits. Trying to calculate the intrinsic value of stocks in... More
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  • Expecting A Pullback Next Week 0 comments
    Oct 30, 2011 1:38 AM

    Lots of news next week to digest with Fed meeting and Jobs #’s on Friday. Expect the unexpected. In a perfect scenario we are slightly down Mon-Tues and when the Fed meets it’s initially met with a big sell off – that may be the time to load up. I’ll have to see the character of the market before I decide to dive in on the long side.

    With the VIX 21% below it’s 10 day ema, the % of stocks above their 50 ma at multi-yr highs, and the SPX at significant resistance…a pullback is necessary at this point to allow this rally to move higher.

    The VIXY is also nearly what I’ve deemed as potential support and if it bounces it’ll be because the general markets are selling off, triggering fear in traders.

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