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sbra
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Hobby economist, Day trader
  • Afternoon market watch 0 comments
    Aug 31, 2009 2:40 PM
        The market to me has been bearish for the last 2 weeks and certainly confusing. If you want to know if the bears are truly taking hold wait till the close today and watch the S&P. If it breaks its 1014 level and goes lower, we are probably going down, if not that will tell me the bulls are still buying and we are in for a wild ride this Sept. I personally think we are heading down. Please understand there are many hedges and mutual fund managers that did not participate in the market run up. That is what I believe has held this rally over the last 2 weeks.  If you want to keep your positions please protect them with options, inverse etfs ect. I believe your best play if we break the 1014 S&P resistence is take your intial investments out and leave your profits. Set your money on the side and wait for a reversal or purchase inverse etf's make a profit and when the market turns purchase your investments back at a lower cost.

    Have a great Day
    Steve

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StockTalks

  • I have been short banks for several days now. With the news out of china it looks like a down turn may come.
    Sep 14, 2009
  • we have broke through some important technical levels 1040 on the s&p i have been bearish because of fundamentals but this turn around ma
    Sep 11, 2009
  • Bearish on the market again but I'm still cautious.
    Sep 10, 2009
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