BROAD STOCK MARKET TRADE ALERT (3:30 pm EDT)
I am going to sell short the broad stock market today. After a severe downturn last week and Monday (which we had anticipated), this market has found some stability over the last 3 days and has been rallying a bit. I think this rally will be short-lived, however, and another turn down could be imminent. All three indices (DOW, S&P 500, NASDAQ) could plunge further down, but I am going to enter a short position in the DOW as it has fallen the least from its recent high on July 18. Any trader not selling short today could do so early tomorrow, assuming the market doesn't drop severely (i.e. way below 38,499 - Monday's low).
I will give more analysis on the current situation in the broad stock market this week-end.
I am going to sell short the broad stock market today. After a severe downturn last week and Monday (which we had anticipated), this market has found some stability over the last 3 days and has been rallying a bit. I think this rally will be short-lived, however, and another turn down could be imminent. All three indices (DOW, S&P 500, NASDAQ) could plunge further down, but I am going to enter a short position in the DOW as it has fallen the least from its recent high on July 18. Any trader not selling short today could do so early tomorrow, assuming the market doesn't drop severely (i.e. way below 38,499 - Monday's low).
I will give more analysis on the current situation in the broad stock market this week-end.
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