What a great day! Best gains this year!!!
Posted on July 16th, 2008 in Stock Market |
What did I say a few days ago that we were bottoming out. In fact we blew out the bottom. Today the almost everything turned positive except the oils which I am short using the DUG (in at $30.35). Look at the market heat map…this is beautiful.

I closed my BX short yesteday at 14.91 for nice +11% gain in a few days which was good becuase today I shot up 12%!!!! Im looking potentiall short this again at around $18.
I’m currently in UYG (Ultralong Financials), DUG (Ultrashort Oil), UWM (Ultralong Russel), GS (Goldman), QLD (Ultralong QQQQ), SMN (Ultrashort Basic Materials)
I went long GS (Goldman Sachs) today at $165 because it was hitting the lower uptrend channel. I hit the mid PTR (red line) which is often a reversal at 152.25 for the low yesterday that’s close enough for me. This will run up to test $185 then $200 price targets.

DUG (ultrashort Oil, in at $30.35) will make a run for towards $37 then test it bounce around this back up to $44. See my post from July 9 about DUG

For a riskier play I entered into NNVC today at $1.34 which I posted about NNVC on June 2. This will test the high volume high at $1.78. I’m keeping stop below 9EMA (which is the pink line)



