Question for swing traders

Discussion in 'Trading' started by contrary, May 20, 2008.

What does today's move represent?

  1. Beginning of a downtrend

    10 vote(s)
  2. Buying opportunity

    8 vote(s)
  1. contrary


    Is today the beginning of the next leg down? Or a buying opportunity?
  2. Wouldn't that depend on the stocks that you're looking at?
  3. loik


    What do yoy mean by "the next leg down", SP < 1255?
  4. contrary


    Fist: I mean the stock market in general.

    loik: yeah re-testing March lows.
  5. loik


    Bouncing off, or continue down?
  6. JoeF716


    can't really judge by one days move..

    the dow is moving towards neutral mode while the nasdaq and s&p are still intermediate bullish making higher highs and higher lows. all you can do is play what you the current swing
  7. If the next bounce (probably starts tomorrow) doesn't make new highs then beginning of new Downtrend... For now buy the bounce or do nothing...