We make money the old fashioned way...

We make money the old fashioned way...
We print it.

Friday, February 19, 2010

A trade setup..

I try to find at least three points to play a pivot..this one's got at least five. Sold short 50 DRN @ 132.44 today, so we'll see how much longer the market can rise on crappy volume. I feel the ending of "Printin' Ben's" 1.2 trillion MBS purchase program will have detrimental effects on this soon...
DRN Fibonacci retracement into 50-61.8% zone
MSCI REIT index that DRN tracks approaching price resistance. Note the Stochastics in the middle are indicating downtrend(red line above green) so this play is technically with the trend
SP-500 PUVD shows up well on the 3-day
T2108 no longer oversold
T2106 overbought
REIT bollinger band resistance

No comments:

Post a Comment