Coming Hat In Hand, GM Asking For More Money

February 18th, 2009

Good Morning! First, if you didn’t get to see last night’s video I strongly suggest watching it before we begin. As for today’s actions, like I said last night, I wouldn’t be surprised to see a small rally here today – even if it’s just for a little while – given how oversold we are on the daily chart. Having said that, let’s not get carried away by any rally today as a sign of the bottom – which the media will hope to project. Markets move in rhythm and never straight up or down. As for my shorts, I’ve updated stops a bit, but still remain comfortably letting these run their course and make us a lot of money. As usual, here are the updated S&P support and resistance targets for today.

 

spx18

  • Share/Bookmark

Comments are closed.