Tuesday, February 19, 2008

IT'S A WAITING GAME NOW

It's a waiting game now. Technically the indices are still in a symmetrical triangle. I was thinking that we might get a break to the upside this morning, instead we continued to move sideways. I'm guessing that tomorrow's CPI numbers may determine whether this trinagle breaks to the upside or the downside.

The sell-off near the end of the day indicates that investors aren't expecting good numbers. I didn't anticipate a sell-off so I ended up buying NYSE EURONEXT (NYX) at $67.09...I'm at a 36 cents loss right now. The chart below pretty much sums up why I bought NYX.

With the markets being so uncertain right now, this position I have in NYX isn't sitting pretty. If it breaks below $65 I'm going to have to take a loss.

Oh by the way, I just wanted to share this site: www.HitTheBid.net with you guys. I find Jefferson's videos quite entertaining...like these ones for example:
Sony Tech Call Part 1
Sony Tech Call Part 2

1 comment:

$ Mad Money Renato $ said...

nice blog, can we exchange links???
http://madmoneyfund.blogspot.com/

let me know i will do asap if u want to ??

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Edmonton, Alberta, Canada
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