Apr
4
Written by:
Steve Patterson
4/4/2009 2:19 PM
US Indexes Are Clearly in the Green
I didn't think we would see the pullback for the classic W formation in the indexes but we did get the gap lower this week and then the new short-term high. So now the indexes are clearly in the green across the board for the Nasdaq Composite, the Dow Jones Industrial Average, the Russell 2000, and the Standard & Poors 500. The markets will continue to rally or we will get a hold signal after a number of down days. So being long until the hold signal is met is a decent play.
Ultra S&P 500 Position
I am still holding the Proshares Ultra S&P 500 (SSO) shares with a little bit of a profit. Adding to my position on the first day of the two day down movement lessened my profit but both the initial purchase and the additional purchase are profitable at this time. I plan to begin looking for some individual stocks that are breaking out of a trading range with good earnings and revenue forecasts in decent industries. The stocks need to have an upcoming earnings announcement but nothing too soon as I want to profit on the position before the earnings announcement and then sell the position shortly before.
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6 comment(s) so far...
Re: US Indexes Are Clearly in the Green
It's been a really nice rally in the markets over the past 4 weeks. If it continues that would be very good for the country.
By Free TShirts on
4/4/2009 9:30 PM
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Re: US Indexes Are Clearly in the Green
I don't think that we've seen the end of our economic woes just yet but from a stock market perspective I think we're not going to see things get a lot lower (give or take 10%) than where we were a few weeks ago.
I mean bank stocks are so low now, how can they get much lower?
Anyway just my 2 cents worth....
By outsourced reception on
4/5/2009 11:39 AM
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Re: US Indexes Are Clearly in the Green
The markets had a little decline today but I see how the indexes have broken out of resistance.
By Fat Loss on
4/6/2009 1:51 PM
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Re: US Indexes Are Clearly in the Green
I believe the market was low the past few days, However I expect that stocks will take their time and start to get higher.
I think that if a share held major loss then hold on to it as it might rise, rither win or loose everything
By Variable Annuities on
4/11/2009 2:16 PM
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Re: US Indexes Are Clearly in the Green
The US index is now gaining back its popularity. With the lifting of the economy, I'm sure it will not take any longer that its "momentum to the highest degree" will again be felt.
By Anne @BestTermLife on
4/11/2009 8:27 PM
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Re: US Indexes Are Clearly in the Green
Hope the economic is reviving.It's good to see that there isn't any negative news nowadays.
By Fashion Shop on
4/12/2009 10:01 PM
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