Dow Drops 350!!!
:banghead:What's next? With the market being unBEARable. What should i look into? Is ultra short ETF's a good place to hold a position? Or is energy plays? I'm a little unsure of myself in the current condition, is the dow looking at 2003 levels now or should we bounce off this look up before falling? any pointers......................:frown:
The DOW broke below its trendline. It's heading to 9,000 , NAZ down to 2,000 and the S&P to 1,000. I like round numbers.
http://onlinetradersforum.com/styles...foro/clear.png
I recommend shorting stocks or buying short ETF's on the next market bounce tomorrow or Monday.
I'm not sure what sector to invest in now either. The USA economy seems to be dipping towards the worse, not better. Oil is a bubble. Coal, steel, railroads, natural gas, drillers and agriculture stocks have had incredible runs. The question is can they go a lot higher in the near future? I'm not so sure. I'm bearish on most things right now.
Well they say 90% of stocks go down in a bear market. It might be a good time to protect some gains. Sell in June and go away. The SKF still might not be a bad play on any pull backs. I liked it in the low $90s and still do. I still don't trust the financials. I like buying dips, but I don't like what I'm currently seeing in the market. For now, I'm not buying any dips.
It is a worldwide recession, not just a U.S problem. Actually, compared to other countries, The U.S is not doing too badly. Today the U.S sneezed and the rest of the world will be catching a cold overnight.