Pro-Active Trading Ideas 1/9/09

Discussion in 'Chit Chat' started by proactivetrader, Jan 9, 2009.

  1. The Obama rally was short-lived and actually earlier than i expected. The price action this week was very heavy and bearish, obviously.
    A decisive break of 8500 will lead to another strong leg downward, and ultimately a failed retest of the recent lows.
    Technically, the charts are very clear. Add in the overwhelming barrage of negative news - middle east, russia, congressional uncertainty - and it adds up to more downward pressure.
    If you are not an adept short-seller, i strongly suggest the ultimate in caution when buying u.s. equities.