Tuesday, October 28, 2008

Is Market Bottoming?

Is this the bottom?

No one knows, but today's price action gave me entry to SSO, Ultra Long SPY. I will watch it as it reach $34, if there it forms a long candle, I will sell out at $39.80.

After I entered, SSO already moved $1.00 and I moved the stop to break even.

Look at all four sisters, even IWM broke out!

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shorts: VIX
longs: SSO

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