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Posts Tagged ‘dow’

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DIA Showing Distribution

In Market Analysis on June 10, 2009 at 8:17 pm

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Dia 6-10

I posted a few days ago that DIA is approaching resistance at 9000 and this rise has been on light volume.  Some people have said that is because of  summer where trading decreases.  However, there is a lot of money sitting on the sidelines.  If it was a true beginning of a bull then it would appear in the volume.

Therefore, I have been skeptical of this rise and I am very skeptical of this market after three days of increasing selling.  I expect a sell off.

This begs the question what about our stock positions in TGB, NGD, GMO, and UXG.  We need to be aware of the overall U.S. Market, however there still is strength in emerging markets so I am not prepared to sell my positions in these companies.  Stay tuned and I will notify if we have to take our trailing stops.

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Stock Market Update. Important Week for DOW. 6-6-09

In Market Analysis on June 8, 2009 at 8:53 am

dia 6-7-09

Major resistance is being approached for the DOW.  Notice the trendline and resistance where it failed three times in December of 08.  Overhead resistance and lack of volume on the recent rally tells us to be careful and to be ready for a shorting opportunity.  Stay Tuned!  Make sure you have trailing stops set up.