Tuesday, May 11, 2010

Stock Market- Shorted This Bounce


Today was an interesting day because I saw a few things take place that may be significant.  As you know I was looking to short this bounce in the market providing I saw reasons to get short. At 1:00 today when the S&P broke high, many of the ETF's that represent the foreign world markets did not break high. What is the significance of that you ask? Well these same markets were the ones that were leading us down over the past 4 weeks.

Some of the other world markets that did not break high today at 1:00 were EWP which I tried to short but was non-shortable, EWD, EWA,EWO, EWK,EWN,EWI to name a few. Some of the steel stocks were also showing weakness at 1:00 such as X and STLD.

I shorted a few things today with a protective stop right above today's high. Let's see what happens.

3 comments:

Jerome said...

Hi Kevin - I see no way to contact you. I'm interested in your writing for another site. I don't want this to seem spammy, so would you comment on how I might get in touch?

Kevin said...

Hi Jerome,

Let me have your email and I will contact you.

Thanks

Anonymous said...

I tried that too but got stopped out. Somehow I don't think we have only one dip in this correction. However, I always loose when I play stock indices. Gold is another story.

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