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Looking at some basic support and resistance lines looks like DOW 7000
should be a support zone. Some of the key stocks I watched that were not
getting their price declines confirmed by OBV got confirmed today, guess
we'll call that a lagging indicator!
Some stocks however, TMX and TBR are not being confirmed to the downside
by OBV. I am still holding long on TMX and GE. Got worked on both of
them today.
I am nibbling at AMAT, I have some Jan 40 calls and if I had been day
trading or set a sell price at double my buy price I could of sold for a
good profit today, the stock swung all over the place today to the upside
and downside.
Got some cash on the side, might be some good opportunities coming up!
I didn't have any clue from any indicators I use to forecast or suggest
what was going to happen today. The only ting I had going was the
knowledge that we were overbought for some time and were due for a
correction, so I was playing it safe but had no indication to go short or
buy puts.
Any body out there have some thing that got them to go short or buy puts
before today ?
The sun will still rise....The cheese heads will still conquer !
JB
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