Yeah, "bear" action is much different in the indicies than the bull market action...It also gets dicey at these levels (psychologically) since it's been 7 years or so since we had sustained downside movement...each time it rallies 20-30 sp points, there's alot of panic covering, etc.
From cnbc "PRO" didn't get the whole article since I don't want to waste my money signing up for lame cnbc article but this was the first of the beginning of that article they provide for free...... After stocks go through a correction, pundits dust off old Wall Street market indicators to try to game a bottom. Things like "Dow Theory" and "death cross." Well here's one more for you. Bank of America Merrill Lynch's "Sell Side Indicator" predicts the S&P 500 will rally 18 percent over the next 12 months, according a report sent to clients Thursday.
Not yesterday, I listened to you, you said wait for 90s so I did. nice call. But this morning yes I bought at 96 and just sold at 106.50. Very interesting trade there once you follow the support and resistance. I think anytime it lowers into the mid 90s its a buy. and then above 105-110..its a sell. I can see why you were waiting for 110 looking now at LABD
awesome, glad I could help you make some $$$$$$$ Im holding until tomorrow, it just broke to the upside once again, trading around $107, will be selling it all tomorrow hopefully above my $110+ price target.. It moves quick, right now the setup seems to buy in the mid 90s and sell in the $105-$115 range however that range isnt going to last forever, if oil breaks out which it could back to $50 the new buy on DWTI will probably be below $65. So just keep in mind this range isnt going to last.....
Im in LABD as of this morning well before the market opened, its tough to want to get in, I would hold off, Im in around $56 and change, selling at $63+ buy hold off on buying and quick rally in the markets will send it straight down to under $50, don't go in...wait!