Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Market Update, 4-19

|Includes:DIA, IWM, ONEQ, SPDR S&P 500 Trust ETF (SPY)

      Today the market continued to trend lower. It went up a little bit, and closed above the 13-day moving average and above the trend line. Although Friday was alarming, it was not confirmed yet with a break in the trend line or 13-day moving average so I haven't entered short positions yet. It seems that the whole Goldman story is not an isolated event. The SEC is going to continue probing major firms and being more vigorous in keeping down the crooks that make up Wall Street. The market has noted this and doesn't like it. It may well be the catalyst for the start of a down segment. However I will continue to wait for a breakaway downwards to enter short positions.

Happy Investing,


Disclosure: None