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SPDR S&P 500 ETF Message Board

  • ibdman15 ibdman15 Apr 16, 2013 8:00 AM Flag

    Huge shorting opportunity on the Open

    buy and hold has been replaced with buy and hope. 40% downside risk is real versus maybe a 1-2% gain. Who would buy with 8 distribution days on the NDQ and 7 on the SPX and NYSE and uptrend under pressure? D+ on NDQ, D- on IWM, transports, small and mid caps broken down. If we backtest the broken 20 dma's great entry points for shorts.. Remember the Boston terrorist attacks didn't have much to do with yesterday's market collapse. More market turmoil to follow. plus consumer spending will now take a huge hit as folks will avoid large gatherings in cities since big targets for those foreign Muslim terrorists. Think of the amount of sucide and car bombs in countries where we have a huge military presense and our military can't even prevent. its just a matter of time before these frekos do it here more routinely.

    Sentiment: Strong Buy

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209.34+0.06(+0.03%)May 26 4:00 PMEDT