Wednesday, June 18, 2008

Dow and NASDAQ Update



If you read my last post a few days ago you would know that I was looking to buy the NASDAQ while still holding onto my short position in the Dow.

As you can see in the above chart the Dow has broken below last week's low while the NASDAQ is still holding above last week's low. You can clearly see how much weaker the dow is than the NASDAQ which is why I am short the dow and long the NASDAQ.

Overall I am bearish on stocks but I do see some pockets of strength so I guess you can say I'm trying to play both sides of the market. If the NASDAQ breaks below last week's low, I will exit my NASDAQ long position at a loss and continue to hang onto my dow short position which is doing very well.

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