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Wednesday, January 27, 2010

Smart money playing with dumb money

$109.80 on the SPY, I mentioned yesterday, is an extremely important level. We closed below it yesterday and traded below it 95% of the time today only to trade back above it the last 20 min. of the day!

I really REALLY feel that the markets are playing dead right now. It seems as though it's pretending a future break down but it faked so many people out now that the "bear trap" is in place.

Stay above $108.30 and break that $110.40 level so we could go to $112.50 level already...I still favor the upside. Make sure you have your stops in place!
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AGEN alerted Monday night @ $0.78 is now @ $0.8159 or about a 5% gainer, I still like this stock going forward.

MAKE MONEYYYYYY!!!! $$$$$$$$$$$$ :)
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2 comments:

  1. Minerals LiberiaJanuary 27, 2010 at 10:20 PM

    I am watching you.....

    ReplyDelete
  2. yourfinancialbloggerJanuary 29, 2010 at 10:14 AM

    Sparky,

    hey I hope you got into AGEN @ the price I gave when the post was made. It ran as high as 13% in 2 days.

    I would advise you and everybody else to never chase a stock and take profits when you can.

    I took half of my position off after a 10% run-up, I still hold the other half as i am expecting another move up, but we have to stay above $0.78

    Good luck trading.

    ReplyDelete

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