Day Trading – The Bullz And Bearz
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Barclays Outlook Sends Futures Up For 5th Day, Bearz Load Guns
March 16th, 2009
After some great early morning news from Barclays, the US futures are trading higher for the 5th straight day. They are off their best levels of the morning, but are still up nearly 1% as a whole. As I talked about in this weekend’s Trading Video and also in the Member’s Only Video, I had a pretty strong conviction that today would have been a down day. While of course we are still in the early hours of the trading day – meaning that I still think we might close down today – I can say one thing pretty confidently – if we get to 775 on the S&P I’m buying put options.
Regardless, as member’s know I have a good helping of both longs and shorts, so honestly I’m not going to be “mad” by any means if we go higher today because I will make money on our long positions. Still, I think we are headed for a very profitably correction for us short-term bearz in the markets. Be back mid-day if it gets interesting out there!
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Today's Live Market Quotes & Charts
| NASDAQ | 2905.66 | ||||
| S&P 500 | 1344.90 | ||||
| ^TNX | 1.95 | ||||
| ^XAU | 200.34 | ||||
| ^XOI | 1295.01 | ||||
| DOG | 36.72 | ||||
| XLE | 72.77 | ||||
| FAS | 90.80 | ||||
| RWM | 26.27 | ||||
| OIH | 129.44 | ||||
| FXP | 22.06 | ||||
| GDX | 56.44 | ||||
| EEM | 43.88 | ||||
| XLF | 14.73 | ||||
| DIG | 48.09 |
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