Short term support is at $140, but if concerns about consumer credit cards follow through and the market does drop another shoe, hello $105, $70? I'm inclined to cover right now at $140 anyway ... it's a small profit but there is a high likelihood of a bounce here IMO.
That actually looks like a good value play -- it's plumbing depths unseen since 2003, and a lowly PE of 6.32. Wouldn't be a bad medium to long term value investment.
unless you're pulling my leg here, then holy crap. so "random idiot" robbie380 is robbie from kershner. small world. i didn't even put your name and being a trader together until you said you started in '04 and that sounded about right. you don't know me but i was jason's roommate, derek, for the last few years until he just went to vandy. every day i see the market swing 5 or 6 hundred points, i think about all the money he tells me y'all make and wish i was trading (although i would probably bring the company down given my recent luck) instead of engineering. now i have to go back through this thread and do everything you suggested.
Oh boy. Triangle wedge pattern was just broken to the downside. MA is below support at $140 and looks like it's on it's way to closing there. Look out below...
<object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/2BmZ_hsra1k&hl=en&fs=1"></param><param name="allowFullScreen" value="true"></param><embed src="http://www.youtube.com/v/2BmZ_hsra1k&hl=en&fs=1" type="application/x-shockwave-flash" allowfullscreen="true" width="425" height="344"></embed></object>
ProShares UltraShorts are on a tear once again. Man I have been earning my bread the last two months on this stuff alone by pairing with inverse of each and focusing all my attention on them. Favorites: DXD SDS DUG SKF and TLL Play this smartly and you can basically forget about chasing stocks for pennies and nickle profits when you can be making dollars with these things everyday. This is not a long term strategy but the volatility in the market right now leaves no other choice especially if you are a day trader like me.
