Thursday, November 5, 2009

SPX got the bounce I expected, entered SPXU

Yesterday I mentioned that I avoided a short entry in SPX because I expected a bounce, from my analysis. I know that many shorted yesterday, I chose to wait.


Today, SPX moved up, per my expectations, although it did not make 1071. There is still possible more upside, per my work and comments in other blog posts below.


Now, also in my daily ramblings today, I mentioned that I STILL did not have my "short swing" setup in place. I maintained the view that I would not short today, until about 3:45PM. Then, I decided to take a small position in the SPXU because it seemed appropriate.

I'll update this posting later with details. Got interuppted LOL...

* ChristopherStockGuy is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. For details, see the post from SATURDAY, AUGUST 15, 2009 titled "Disclaimer".

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