Thursday, March 10, 2011

3/10 10:00

Lots of bad news this morning.  Spain downgrade, claims up, China's trade balance swings to a deficit on weak exports while our trade deficit increases (China's not buying American). 
SP futures fell to their 50-day M/A but are above the triangle low, 1292.50.  I'm holding 4% SSO here and am willing to wait for DJI 11,983.70 and SPX 1294.25 to fall before pulling up stakes.  It's hard to buy here even though technically I should.
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3 comments:

  1. AnonymousMarch 10, 2011 at 7:28 AM

    Steve

    Will the 50 day hold as resistance?

    Jack C

    ReplyDelete
  2. SteveKotelesMarch 10, 2011 at 8:17 AM

    Jack, the 50-day is support. If SP trades below 1286 then it will flip to become resistance. Until then it offers support.

    ReplyDelete
  3. AnonymousMarch 10, 2011 at 9:35 AM

    Steve

    You must be looking at a different 50 day then I am.

    Jack C

    ReplyDelete

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