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Message: Market wedNESday

Market wedNESday

posted on Sep 02, 2009 10:59AM

On Pink Sheets - Currently down a half-penny, but news can change all of that as we saw yesterday. Should get a decent move whenever the move to OTC happens, plus all of the upcoming contracts. Thanks to Repair7 for his insight on playing Pinks. This morning saw a bit of a sell-off to open, then buy-in and now some more selling. Technicals - 15min Bearish, 60min was Bullish and now going Bearish, Daily is in Bear mode. This spec play has enough volume that the technicals seem to work. Lower-low and now a higher- high on the 60min may indicate possible turning. However, daily shows that may see a bit more pain in the cycle, so beware. If buying, scaling in is suggested.

Dow coming back after some continuance of yesterday's sell-off. Techs have turned and in the Bearish portion of the cycle. How long the cycle goes this time is yet to be seen. Still losing jobs, more REO's to be put on the housing market, many folks cutting back more. Gold popping big so maybe divergence may be happening. Diversification helps peace of mind in this volatile Market.

Energy sees Oil and Solar rebounding. NatGas is still gassing off...

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