Charlie Anderson's  Instablog

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 Tracker, 5-4 0 comments
    May 4, 2010 6:32 PM | about stocks: POT, DIA, IWM, SPY, ONEQ, SPXU

          Today the markets continued their slide. SPY broke through the little support in the low 1180s. Also, SPY sold heavily right as the market closed at 3:59. Most people trading at this time of day are professionals, and this is a strong indication of what the "smart money" is doing. They're selling short. I got stopped out of Potash today. It was a bad buy, and my stop should have been much tighter. However, we learn and move on. I did not expand my short position today because it is already  large enough and leveraged. FXI [The Xinhuan 25 ETF] has broken below its multi-month trend line. This is increasingly looking like it will be the 25% correction from the World Bank model. For now, I'm along for the ride.

    Disclosure: Long SPXU

    Stocks: POT, DIA, IWM, SPY, ONEQ, SPXU
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