Monday, August 23, 2010

Stops hit

I'm playing a little catch up here, but the Qs are a good example, but it's apparent in all of the averages, stops have been hit on the intraday lows. This is important to watch and see if we get a move on the SPY back above about $107.30 as that will set up a possible false breakdown. I' want to get this out to you quick, I will update if I see the divergence warning of that.

4 comments:

Mr.X said...

Please do update as I'd like to close longs (UPRO). THANKS!

Mr Pink said...

Cause?

http://www.msnbc.msn.com/id/38820314

Brandt said...

The timing is about right, it was a waterfall sell-off

Mr.X said...

I held on to it. Bought some SPXU just as a protection for tomorrow. Something tells me this wasn't real, well see soon.