Wednesday, March 30, 2011

Stock Market Update


Stocks opened higher today stopping me out of my short position. As you recall I shorted the market yesterday based on the bearish engulfment pattern that formed the other day but that pattern was quickly negated at today's open.

I still feel that the market will move lower but as of now I don't have any signals to short so I will simply stand aside until something lines up.

2 comments:

Anonymous said...

I hear you,
Many of my short positions were stopped out too. The ones that still work are short EWJ and SMH. I also noticed AAPL very weak. Something is brewing but markets do their best to confuse as many players as possible.
I went ahead and ventured to short silver today based on T/A.
Will see what happens.
Jack

Stock market said...

Awesome post, I am an avid reader of your blog, keep on writing these great posts, and I’ll be a regular visitor for a very long time.
Stock Market

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