Monday, November 30, 2009

THIS IS A TOPPING PATTERN ANY WAY YOU SLICE IT


This index of small cap stocks which represents risky assets is slowly but surely topping out in my opinion. Any way you slice it, whether we bounce slightly here, this index looks headed lower in due time. It seems very hard to believe i know! Just like the rally off the march was hard to believe and everyone was skeptical. Anything is possible.

4 comments:

The Average Jay said...

I do agree and think it's look out below. Keep up the good job.

seeer said...

GS today gave me the buy signal, but I'm hesitating with the buy order because I should place my stop too far and the price is under the downtrending 50SMA so in my eyes this stock is in a medium term downtrend now. I won't buy it.

seeer said...

I think the financials will rally, I do see plenty of positive divergences on those charts.
I don't know why would short this market.

Stewie said...

hi jay and seeer,

strong reversal in small caps today but also i got a vibe that we short squeezed into the bell today. so i think we will rally a little from here. I warned that if you playing to short the top, this would not be an easy affair. I am keeping all my trading time frames very small and trading both longs and shorts. We had a good day playing long positions and i will focus on the long side until the tape tells me to switch.

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