Wednesday, April 1, 2009

THIS MORNINGS TRADIING

We are in the midst of an historical financial catastrophe....but it really doesn't feel too bad at all. So how can that be? In the world that we have grown accustomed to changes occuring in seeming nanoseconds and the unfolding of this economic meltdown is molasses...at least its effects on mainstreet have been on a relative scale...These changes will continue and accelerate later this year.
However the Market is not the street and HAS been slaughtered. We are due for P2 here and I intend to play it ,but not heavily with the leveraged etfs long...except in quick scalps. I am very conservative in our current environment and am playing spy right now for my long etf on swings.
If we can move this P2 corrective wave down to 760 I want to start adding spy heavy. This corrective could easily go to 720...but I wont wait to begin adding...Preserving and growing.

5 comments:

  1. I agree with you on those #s. I am in SRS today and per Dano's charts I hope to do well today. GL today and make lots of $$$$$$$$.....SA

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  2. I agree as well. Playing SRS today and will go long with sso at 750

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  3. Kliguy, nice talking to you. I see the current rally going to 855-875, then it is difficult to predict. We may have ups and downs and not vising the lows of March for a while, as we are due for a mini-bull before the final crash.

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  4. kliguy38,

    How do you find time to trade? What is your PhD in?

    Regards,

    John

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  5. My degrees are in the Science fields ...no more specific....bach and doct at UMMC....3 years post doct UK.....yuk jayhawks......

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