Stay tuned. If the $TICK can return to overbought levels it would be an optimum entry point for the short side.
Monday, February 2, 2009
Pre-market February 2nd, 2009
Today it looks like the market is going to sell off at the open. I am intermediate term bearish and think that we need to retest the November 2008 lows sometime soon. However the market has sold off sharply the last few days so it wouldn't be out of the ordinary for us to trade higher after the open this morning. If that is the case I might use the small rally to enter some new short positions. Some stocks I am watching for short entry are GS, SYMC, BRCM, MO, PBR, RIMM, XRT, STLD, SGR, and BTU.
Stay tuned. If the $TICK can return to overbought levels it would be an optimum entry point for the short side.
Stay tuned. If the $TICK can return to overbought levels it would be an optimum entry point for the short side.
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