Thursday, April 15, 2010

Haul Butt If It Whipsaws

UPDATE: No impulse at all. Very worried that they won't be able to pull it down. Yes, got MACD cross, but WTH is going on with S Sto? SPX did set a lower low and is still holding a lower high. The fly in the ointment may be that the DOW set a higher high, but that is cause smaller concentration with BAC and GE coming tomorrow. We may have to wait a day or till Monday. While this counter by "them" was not all that surprising, each one is sure getting more aggravating. 60m is getting close to bear cross again. Maybe we get a double whammy tomorow!

Must have volume -Intraday Volume Update: Volume Plunges: Market Up, Volume Surge: Market Down

Here is the CPC chart looking for a little more room possibly.Per the famous Rich Cash, I added CPCE to the chart.
OLD Post.

MACD has not confirmed but.....SPX 30m about to possibly confirm trend change. Bullish reversal and 30m MACD bear cross (on TOS chart) plus all the other stuff.  If it whipsaws haul butt and don't look back. I have not entered any positions yet. No guarantees. Do your own homework. Always use stops. With BAC and GE in the am this is a high risk entry to short (not to mention the fact that the market is more manipulated than anytime in history). Like the signs say, "Enter at your own risk."