Today’s Line in the Sand: S&P 840

Every day in this brutal market there is some technical line in the sand that gets completely blown up. Technicals in crashes are showing to be quite useless. I remember thinking way back in the day (err, yesterday) that 960 was the line in the sand - once that broke I went from the 25% short exposure to 40%. Today’s line in the sand is S&P (gulp) 840. This is the opening low and we just retested it an hour or so ago. So if technicals mean anything it’s either a potential intraday double bottom or meaningless noise as we approach “Redemption Hour” aka 3 PM. …
Original Source: http://feeds.feedburner.com/FundMyMutualFund

  10 October, 2008| Fundamental Analysis | @ 11:38

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