Monday, December 17, 2007

Stocks Head Lower



Today was an awful day for stocks as many major indices and groups headed lower.

Above is a chart of the Q's which I am long. I marked off the support zone which coincides with previous lows and the 200 day moving average. If the Q's post 2 closes below this support area, I will exit my long trade at a loss.

2 comments:

kk said...

Kevin,

Your 10 month cycle for USD/CAD has come. Does it still work or financial situation has changed? Thanks in adcance!

Kevin said...

Hi KK,

Yes, the 10 month cycle low is due now....the only problem I have with buying the canadian dollar right now is that the last move up was at a very steep angle so I am a little cautious about buying this pullback...I'll post a chart of the cycle either today or tomorrow...Thanks for reading.

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