13 March 2007

Dead Cat Dead?

I just have that sinking feeling this morning as the stars seem aligned for a good old fashioned sell off...so I would just pick a spot and sell them...watch market breadth and up/down volumes for confirmation. Depending on entry, I would use a bit of a wider stop as trade could be very choppy and somewhat illiquid as the trend manifests itself...so I'd keep my eye on the 1775-1777 level as that should be as far as they should be able to push them to the upside today...watch the first three to five minutes of trade today very carefully and be prepared to act...Inventories and retail sales loom so be a bit careful on particular names...jfg.

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