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Sunday, August 22, 2010

Going into tomorrow NEUTRAL

The charts aren't clear-cut this week. But there is a bearish pattern on the 60-min chart of the SPY.

I don't recommend going long, because I do think $106 SPY is in the near future. Instead you should scalp/short $107.85

Here is the Chinese Stock I've been watching. I said I'd alert you guys once it got to a certain level. Well, it came within $.05 of it. Check out the candle on the daily chart, is a reversal coming? Monday's close needs to confirm.

(I am currently not an owner of this stock)

CHNG
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2 comments:

  1. Minerals LiberiaAugust 23, 2010 at 8:11 PM

    Thank you for the great commentary...I was able to sell and go short the market. I feel this is the last chance to get in short before the big drop.

    Looking forward to tomorrow

    ReplyDelete
  2. yourfinancialbloggerAugust 24, 2010 at 9:41 AM

    Good for you!

    I'm happy to hear that you've benefited from my blog.

    *cheers*

    ReplyDelete

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