<b>asiaprop</b> Thank you so much for taking the time to post. You insights are very valuable to us. I will reply to your post soon. Cheers!
Not the best way to start a Mon, but on the brighter side at least the bleeding might have stopped. Do not make decisions in panic mode. Take your time. Let us wait till the end of day to draw conclusions before we start going in LONG! Have a FANTASTIC week ahead!
================= Invests; 50 dma , & 200 dma & 50 ma is one /2 of my favorite Two of Investors Business Daily's favorites also........................................ This link works, not all do. Thanks. Also i would rate the sector & stock more important than ''market'', but for sure look @ market & SPY/50 dma as similiar to what you wrote. Eventually it effects it, usually. Classic bullish example s are homeowner selling/buying, should consider ''market''; but not be a slave to it. Same for some bearish bank stocks like Citigroup, Bear Stearns , LEH,MER, CFC, but most of those are no longer with us LOL
I am glad I decided to wait for the close to make my move. Even though we closed on the downside, it was weak by volume. We might have reached a stage where sellers might be running out of options. The bulls had a nice opportunity to take control and did not come through. The market could move side ways, for a while here. <b>So, What am I looking for here?</b> I am looking for a strong bullish move on the indexes with high volume. I will also be looking for the new emerging leadership in stocks to identify sectors showing strength. Cheers!
I think a long is in place if ES breaks above 1050. Apple down 3.5% is telling. I strongly recommend everyone to refrain from trying to play a reversal unless we make back what the indexes lost since the Europe open. If support around 1035 is broken then I think we see more downside to 1020 levels.
went long ES at 1050 and bought GS at 138.70. Stop for ES at 1042 Edit: Adjusted my stop to 1036. Too much volatility. Will add if we break 1056 to the upside.