Tuesday, March 23, 2010

ENERGY

There are a lot of energy short trades-most limit orders on tonight's list. take a look and see what works for you. There are a few more 1-2-day high flyers. Basically this market is in overbought territory and that is why you are seeing a lot of limit orders-"show me" is my attitude. I still am quite certain that we will see a major downtrend, the February ascending wedge was broken Friday on high volume and what we are seeing now is typical of wedges-institutions and middle men are running limit orders and stops and setting long positions. We may see more volatility as I warned, but soon we should have a definitive break down.