Stock Trader Alert For Week Of August 23 2010

[quadcatfly]

i can use Ouija board and predict stock movement even better. Technicals dont reflect the market, fundamentals dont affect the market, group psychology and public sentiments do.

[StockTradingMaster]

@quadcatfly What I can't figure out is which is dumber, saying that institutional buying and selling as seen on charts don't reflect the market or you admitting that you are a Ouija board trader. I guess I'll just have to settle with the fact you're so dumb you tried to drown a fish.

[JamJells]

I feel you are right; that the SPY will dip and we will have a corrections or semi break down. Short the recent highs and all should be okay for the DT's here.

[StockTradingMaster]

@JamJells I never said short the market here. In fact, I'd stay far away from shorting this market right now. What I said is that we are in a downtrend and we are most likely going to test the major support zone from 104.38 to 106. I do not recommend anyone shorts this market until we get a break below this support zone with at least one day confirmation. The reason is that we could see a bounce off this support zone.