Outlook 15 February
Posted by Danny on February 15, 2010
Stocks struggled all week long but the Nasdaq eventually ended with small gains.
So far this New Moon period has produced only weak upside action, which suggests that the path of least resistance for stocks is still down.
Tuesday or Wednesday could mark the top of recent rebound, and next we will enter a Full Moon period.
So look for a chance to take profits, or enter some short positions near the possible peak.
Protect shorts with a stop-loss just above whatever highs we reach between now and Wednesday’s close.
No Lunar cycle extremes coming up for this week, but next week will be more busy.
Good luck, Danny
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This entry was posted on February 15, 2010 at 10:37 am and is filed under Market Commentary.
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Outlook 15 February
Posted by Danny on February 15, 2010
Stocks struggled all week long but the Nasdaq eventually ended with small gains.
So far this New Moon period has produced only weak upside action, which suggests that the path of least resistance for stocks is still down.
Tuesday or Wednesday could mark the top of recent rebound, and next we will enter a Full Moon period.
So look for a chance to take profits, or enter some short positions near the possible peak.
Protect shorts with a stop-loss just above whatever highs we reach between now and Wednesday’s close.
No Lunar cycle extremes coming up for this week, but next week will be more busy.
Good luck, Danny
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This entry was posted on February 15, 2010 at 10:37 am and is filed under Market Commentary. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.