Monday, April 09, 2007

Black monday??

Every now and then people ask questions like black monday?
My favorite response : First you take me to the logical resistance level then we can have black , blue , orange, red monday :).
My logical res level reads 396x
(world will do 100% retracement/new highs we are weaker we will to 61.8-70% like in 2004)

After today's bashing the only one who is going to be black and blue are the bears

Starting tomorrow one should look to trade the short side of weak stocks
i.e longer term downward pressure but shorter term bounce backs
Try to go short on evidence of weakness on hourly charts.

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