Technical analysis for shorts & longs Message Board

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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 690.27

0.0%

Dec 26 4:00 PM EST

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To: Johnny Canuck who wrote (40521)	12/23/2003 4:03:12 AM
From: Johnny Canuck	Read Replies (1) of 69261

Trendless market on the COMPX daily. Same thing on the intra-day. Percent of stock 1 STD below their 200 day SMA now 2.62 percent. It has not been that low in more than a year. Number of stock 1 STD above their 40 day SMA now back into overbought territory. This indicates caution is indicated for another sell off. The conclusion is that if you are going to take positions either trade in the direction of the break out of this consolidation or take equal dollar amounts of shorts and longs. Also keep it light on positions and be willing to reverse 180 degrees on the positions that go against you.

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