Wednesday, March 19, 2008
Wednesday S&P Update
The S&P is attempting an incredible stabilization at 1,330 today, the mark we pointed out last week! We see more downside risk in the short run, so although our target has been reached, it has NOT yet stabilized to the point where we would recommend that our readers build ANY long positions. On the contrary, we see the 3 day weekend ahead as fueling uncertainty, considering the geo-political events in Europe and Asia, especially China and Japan. We're not pleased with the recent Bear Stearns collapse and we caution readers of potential REGULATIONS being discussed & thrown around in the days and weeks ahead, ESPECIALLY by the Democratic party. We will update you on these fascinating macro developments in the coming days. Until then, please be sure to adhere to the 11 Commandments ~
Thanks to all our valued supporters in 49 countries around the globe. Tell your friends that the Psychology of the Call has been an interesting and accurate read. Please feel free to share your opinion on this or any other post by clicking on “Comments” directly below.
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2 comments:
shorts are alll the same...... if i had listened to you at15 i would have never sold it at 21.....vectorvest has jrjc worth almost 22 and earnings were great
Thanks for the comment. We're not Day traders. We suggested that readers short between $16 and $18.50 and we stuck with our 3rd Commandment of Trading to hold on to the short position - and add to it - when JRJRC was artificially bumped to $21+ by the snow job of an earnings report. And where is JRJC today? In the $13.75 range. So we're making money and anyone who followed our suggestion is making money, anywhere from approx. 15% to approx. 35%, depending upon when they sold short.
Glad to hear you're making money your way in such a bad market; we're doing fine with ours. Thanks for your interest and thanks for your comment. Good Luck.
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