Buy and Sell Signals, and Other Market Perspectives Message Board

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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives

SPY 695.17

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To: penthouse mike who wrote (32896)	5/30/2012 7:33:57 PM
From: GROUND ZERO™	Read Replies (1) of 221644

I'm very glad you were able to benefit from that early warning post... and yes, I must admit, I did also go short at 1322.00 when I dumped the longs, but I didn't want to post it here since I didn't want to sway anyone, it's not an official signal trade... but I did post it on another Website for the record... but either way, it's important to recognize that whenever you get a failed signal, you can typically expect to see a good market move in the opposite direction... I've mentioned this on several occasions, but it's definitely worth mentioning here again... so taking the short was a low risk trade against the early morning highs... it would be nearly impossible for you or anyone to see it as clearly since no one knew about the second buy signal pending, which failed miserably today... also, we could generally expect to see a second day of follow through, so tomorrow should also be lower, most of the time anyhow but we'll see what it brings us... another heavy down day tomorrow and this market is going to be pushed into a sell signal, just a break below 1299.70 could do the trick and set off tons of sell stops... GZ

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