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Charlie Anderson
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I am currently a student. I use a mix of technical and fundamental analysis to arrive at investing prospects and then do in-depth analysis.
  • Market Update, 4-13 0 comments
    Apr 13, 2010 5:23 PM | about stocks: ONEQ, DIA, SPY, IWM

         Today the market seemed tense. After Alcoa released mediocre earnings reports yesterday, the market fell heavily on early trading to what I have decided are the intra-day support levels. These are 2445 - Nasdaq, 10950 - Dow, 1190 - S&P, 700 - Russell 2000. I have realized that for a definitive top to be seen, at least 3 of these have to show the same signs of a top. After the market widely fell to these support levels, it bounced up and ended up a marginal amount. Intel earnings beat estimates by over 10%, and the market may react positively or negatively to that tomorrow [see my market update from yesterday for why it could go either way]. I'm waiting for the break of these critical levels to take short positions.

    Happy Investing,

                        Charlie 

    Disclosure: None
    Themes: market, analysis Stocks: ONEQ, DIA, SPY, IWM
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