Thursday, October 29, 2009
Declines - Just A Pullback?
I have been locked out of Blogger for the last few days but I'm back!
Since my last post the markets have taken a serious pounding falling over 3%! Yesterday the Dow fell 119.48 to end on 9,762.69. The SPX lost 20.78 points to close at 1,042.63. We are in the green and looking ok. However as I said in my email there is a concern about the speed of this move down. The markets are at their 50 day moving average support levels.
Any break of these support levels would not be good and the speed of the declines may accelerate so we are looking carefully at our position to look to readjust our position. My concern has always been that this markt has headed up quite quickly, which means that it could come down any quicker!!
We need to be aware of our downside risk and adjust earlier if need be.
Until next time.
Since my last post the markets have taken a serious pounding falling over 3%! Yesterday the Dow fell 119.48 to end on 9,762.69. The SPX lost 20.78 points to close at 1,042.63. We are in the green and looking ok. However as I said in my email there is a concern about the speed of this move down. The markets are at their 50 day moving average support levels.
Any break of these support levels would not be good and the speed of the declines may accelerate so we are looking carefully at our position to look to readjust our position. My concern has always been that this markt has headed up quite quickly, which means that it could come down any quicker!!
We need to be aware of our downside risk and adjust earlier if need be.
Until next time.
# posted by Paul @ 3:05 AM 
