A picture is worth a thousand words...

Discussion in 'Trading' started by jreynolds212, Jan 5, 2008.

  1. and this is a picture of the S&P500. For daytraders and swingtraders, this chart may not matter. However, if you want to invest in the spy then I suggest you get one of those double short etfs.

    Right now its time to get real short and just a matter of identifying those components where there will be the most opportunity.
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  2. By the way, the green line is where, in my humble opinion, there will be a turnaround. One of my buddies feels that it will just keep going to the original stop point and my other buddy feels it will just keep going even lower then that.
  3. I see a double top at the red line, which for me means BUY.