3/20/2011 stock market review | Bulls on Wall Street

3/20/2011 stock market review

evening folks.  Nice day in the markets thursday and friday while i was gone.  At this point when market has broken  key levels of support you have to assume the market is guilty till proven innocent.  So any bounces toward 1300/ 50dma i will assume are reflex/relief bounces.   Often a breakdown of key support after a big uptrend the market will retest the breakdown spot before rolling over.  So watch the action on any bounce it will often sucker in investors before rolling right back over.  This action is not for the faint of heart.  If you are taking any losses (which u should not be incurring anything but gains)  then its a good idea to cut your postion sizes in 1/2 to lessen risk

 

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