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My passion is trading stocks. I am a student of the markets just like you. Follow me as I learn new things and analyze the markets. http://www.swing-high.com
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  • Post Market Analysis, Wednesday October 28: Bearish 0 comments
    Oct 28, 2009 04:21 PM | about stocks: IWM, QQQQ, XLF, SPXU, SPY, DIA, FAS, FAZ, UPRO, SDS, SSO, GE, GS, C, CIT, F, AAPL, RIMM, GOOG, BIDU, AMZN, EBAY, INTC, JPM, JNJ, BAC, WFC, POT, MOS, MSFT, AXP
    The markets sold off hard today with all sorts of conviction. Important things to note are the increasing volume across the board on this down leg, the VIX is approaching 30 and fast, and the relative weakness in the major leading indexes (QQQQ, XLF, IWM); do not discount the confirmed double top formation on the Russells (IWM). All of the major indexes are breaking down out of rising wedges or channels...

    Things are looking extremely bearish going into tomorrow's trading session. Keep an eye on the GDP and Jobless Claims reports that are due at 8:30 tomorrow morning. These are major economic reports (especially GDP) and can act as a catalyst in continuing the downside move or can cause this sell off to slam on the breaks and reverse hard. It is pretty much do or die time for the bulls. Either we get a swing low here, which still would not be very bullish because of all the deterioration we have seen in the technicals during this sell off, or it is game on for the bears.

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    Things are getting ugly out there once more. At this point in the markets it would be prudent and safe to wait a few more days for conviction to the downside before going all out short. Keep your heads down traders. Remember to always always always trade with a stop loss and manage your risk appropriately!

    Thanks for being a part of Swing-High.com! Let's continue to make some money.

    ~ Jason
    Themes: day trading, finance, stock, stock market, technical analysis, stock tips, trading, stock market analysis Stocks: IWM, QQQQ, XLF, SPXU, SPY, DIA, FAS, FAZ, UPRO, SDS, SSO, GE, GS, C, CIT, F, AAPL, RIMM, GOOG, BIDU, AMZN, EBAY, INTC, JPM, JNJ, BAC, WFC, POT, MOS, MSFT, AXP
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  • nice sell off on the major indexes $SPY, $DIA, $IWM, $QQQQ, $XLF. Entered long positions in $FAZ, $EDZ, and $TZA throughout the morning
    Nov 12, 2009
  • put an order in to pick up some $fas at $70.17... will probably hold it for this up leg if there is one
    Nov 04, 2009
  • the vix should have support at 30 now... $TICK, $TRIN, and $VIX all behaving slightly bearish today after a bullish open
    Nov 02, 2009
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