Tuesday, December 16, 2008

Stock Indices Close Above Their 50 Day Moving Averages



The stock market was strong today with the Dow, NASDAQ and S&P all closing above their 50 day moving averages. You'll recall the other day I shorted the Q's and I'm using a very tight stop which is right above last week's high. The reason for such a tight protective stop is because this time of year there is a strong seasonal tendency for stocks to rally going into January and I do NOT want to be short if seasonal strength begins to show itself. We'll see if the buying continues tomorrow.

No comments:

DISCLAIMER

This site may include market analysis. All ideas, opinions, and/or forecasts, expressed or implied herein, are for informational purposes only and should not be construed as a recommendation to invest, trade, and/or speculate in the markets. Trading and investing involves high levels of risk. Any investments, trades, and/or speculations made in light of the ideas, opinions, and/or forecasts, expressed or implied herein, are committed at your own risk, financial or otherwise.
 
Google
Technorati Profile Finance Blogs - Blog Top Sites