As you may have heard me say, typically a few days after a FED announcement, the market does a U-turn. We want to lay a little low right now. There are a ton of bullish descending Wedges setting up in all of the Ultrashort ETF's-Bearish for the market, but we need confirmation first.
Tonight I threw out some Ultra ETFs and several are currency which tend to trend very well, so they are longer term trends-look at them with 5 day charts.
When we get a reversal, which I still strongly believe we'll get, we have a lot of potential targets that look very high probability.
Make sure you read the notes tonight and see if they are limit trades.
Tuesday, March 16, 2010
SCON
SCON has some fairly bullish attributes and is in a volatility squeeze. I'd say it makes a move tomorrow or the next day and probabilities are up. This can really move and is highly speculative but a decent long if you have some crazy cash.
