Day Trading – The Bullz And Bearz

We Need To Break Below 880 Bearz – Point Blank

May 28th, 2009

Good morning all! It’s still very early in the day but all pre-morning indicators are again pointing to a flat day in the equity markets. As a reminder, the New Option Writers report will be going out in just 3 days. It’s been highly successful already even with all the wild swings in the market these past two weeks – so try it out for 2 weeks.

 

Here is the updated S&P chart with support and resistance targets. As I have mentioned numerous times here, the S&P needs to close below 880 for things to get rockin on the bearz side. That’s it…point blank. So, we still have a fairly significant drop even to that level and there is a lot of data coming out just in the next two days – jobless claims and GDP stuff.

 

 

As I mentioned last night, I will be adding a couple shorts and some selective longs to the portfolio today – THAT’s RIGHT, IT’s TODAY! There are just too many great opportunities out there that cannot get passed up. Believe me when I say that the people who are involved – members – will make a ton of money over the next couple of weeks and months. Besides, you can’t make money trading IF YOU DON’T TRADE. Here is just ONE of these shorts.

 

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