Market comments for Jan. 10th
This morning, the Dow broke below its recent uptrend line which has been in effect since the beginning of December. If the market volume is stronger than Friday's, it would be a confirming sign that the uptrend line has begun its long anticipated trend reversal, as you can see from the chart below. It is going to be interesting times!
Labels: charts of Dow, December, Dow, Market comments, Moving average, trend reversal, uptrend
posted by Charles Amico at 9:13 AM
3 Comments:
interesting times?
When you can barely see if at all, the TZA purchases that were made so far off in the rear view. Hard to believe that these losses will ever be made up.
with all of the hype and continued growth looking ahead it almost looks like there will be no reversal in this market. It keeps going UP!
Anonymous, since you are looking in the rear view mirror, I would like to have you remember how you felt in March 2009 when the bottom fell out of the market and it was going down, down down to 6,400 on the Dow. It was at the time where everyone felt it was going to continue to go down as they couldn't see the bottom. The opposite is true today! And just as the market turned and started going up then, the market will reverse and go down soon. Except when it goes down this time, it will go down much faster than it has gone up this past year or so. I actually believe that anyone who bought there TZA Options back when they were in the $30's/share, will get their money back and more. This market when it drops is going to scare the hell out of everyone. I have bought some TZA OPtion Calls for April to help regain some of my losses in TZA. My Strike Price is $16 on the shares. I have also bout shares outright at $15.29 my last purchase. Good luck to you and others.
point well taken
and
good luck to you also!
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