Use access key #2 to skip to page content.

SharePlanner (< 20)

Trading Plan for November 17, 2010

Recs

1

November 17, 2010 – Comments (0) | RELATED TICKERS: SPY

Current Long Positions (stop-losses in parentheses): TICC (10.28), HRS (44.99)

Current Short Positions (stop-losses in parentheses)TFSL (8.30), ADBE (30.10)

BIAS: 2% Short

Economic Reports Due Out (Times are EST): MBA Purchase Applications (7am), Consumer Price  Index (8:30am), Housing Starts (8:30am), EIA Petroleum Status (10:30am)

My Observations and What to Expect:

Futures are seeing moderate strength this morning after yesterday's huge sell-off. 

Asian markets were mixed, and European markets are trading just the same. 

S&P gapped below the 20-day moving average and closed underneath it as well. 

Very close to putting int a "lower-low" in this market. 

50-day moving average could offer some support, should it drop that far. 

Yesterday's closing brought us back to the October consolidation zone. 

We'll have POMO every day this week. 

So far QE2 has been a "sell-the-news" event.

Yesterday's volume was very strong, which supported the price move. 

Main goal for the bulls today will be to keep the markets from seeing any follow through.

Follow through is key for the bears, as so many times this year, it has failed to do so. 

Here Are The Actions I Will Be Taking:

0 Comments – Post Your Own

Featured Broker Partners


Advertisement