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JimVanMeerten (56.71)

I'm still on the sidelines -- maybe tomorrow I'll be back



January 28, 2010 – Comments (1) | RELATED TICKERS: SPY

I just ran an hourly chart on the Value line Index - an arithmetic index of 1700 stock followed by Value Line. The index shows trading below its 20, 50 and 100 hourly moving averages.

The index is trading at 2235.80 with resistance at 2267.55 and support at 2214.83.

My advice is to trim stocks trading below their 50 day moving averages but I'd not replace them until I see some support in the market.

Jim Van Meerten is an investor who writes on financial matters here and on Financial Tides. Please leave a comment below or email

1 Comments – Post Your Own

#1) On January 28, 2010 at 12:49 PM, AmsterdamExpat (99.93) wrote:

I'm still all short and doing very well.

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