Monday, October 25, 2010

peeps r still shorting

I have joined several trading groups in my area, and I hear people saying "this market is going to crash any day. I'm adding to my shorts everyday. There is no logical reason the market should be up. Housing sucks, unemployment sucks, Obama doesn't know what he's doing, Obama care will BK this country, no technical reason we should be rallying, no fundamental reason we should be rallying, any day now we are going to crash big time". I also have noticed most of these shorts/doomsayers are Republicans(G.O.P.). They may win the house back in November, but there getting their ass kicked in the stock market. I just love taking their money. :) Thanks

This week: Don't fight the trend. My best trades have been buying the dips on the daily 8ema. or S pivot

First level of Support is 11,000 and resistance is 11250.