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Technicians are eying the S&P's (SPY -1.5%) breach today of its 50-day moving average. The...

Technicians are eying the S&P's (SPY -1.5%) breach today of its 50-day moving average. The 50-day line has held a number of times this year, putting chart-watchers in awe, writes Tomi Kilgore, but the unwritten rule says the more times a level is tested the more likely it is to break. Other ETFs of interest: IVE, SSO, IVV, SH, SDS, SPXU.
Comments (3)
  • Drew Robertson
    , contributor
    Comments (314) | Send Message
     
    Jeepers now you've messed things up. It's an 'unwritten' rule for a reason. But now you've written it! We're doomed. Buy gold.
    20 Jun 2013, 11:58 AM Reply Like
  • MOLLIMUF
    , contributor
    Comment (1) | Send Message
     
    Drew, gold collapsed with the Dow & QQQ in 2008, and will move down with it this year. Hedge your bets with the inverse gold & silver.
    21 Jun 2013, 12:52 AM Reply Like
  • Drew Robertson
    , contributor
    Comments (314) | Send Message
     
    Molli you're new so you shd know that about 50% of what I say is tongue firmly in cheek. What I nvr understand about bears is not that they're bearish but that their default position is always Buy GOLD (or physical silver). Why not just short the SP500 with SDS or the bonds with TBT?
    21 Jun 2013, 08:42 AM Reply Like
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