Ok ... Lady and Gents,

Are we out of the woods yet? The answer might surprise you, No. Unfortunately the market is still in the middle and it is trying to make its decision.  In my opinion I believe the market is making a decision based on its area of trading the past two weeks.

Currently, it seems that the market is building a bear flag, which means we will see some more down down side.  Tomorrow might be another down day, although today was a green day.

If the market breaks through the resistance there is a possibility that the market will grow again, however it currently seems like we are headed lower.

No swings yet only Day trades.

$TNA, $TZA and $DRV are good for day trades.  Do your homework though for the market does reflect edge while it whipsaws.

If you have any questions, send your questions over to Trade.Smart.Now@gmail.com

Have a great week and Trade Smart!

Technology Bear Stock

Currently we are seeing ugly markets all around. Currently the slow growth around the world is affecting the markets and all the problems in euro zone is holding the market to reverse.  The market should tells a little more these following two weeks if a bottom would be confirmed or it will reflect a breakdown which in this case you should have some stocks that you would like to short.

$TYP has been very good to many including myself.  I started $TYP at $19 and it is up $10 dollars. However i don't hold these longs due to the market volatility.  Best advice stay in cash and trade small. But the technology sector is being hit pretty hard so naturally sending this bear stock up higher ... but currently we need to see a breakout to actually get in to this stock.  Be aware that it has a resistence around $29.77.

If the breakout is confirmed then its buy time.  The trend seems pretty nice as the market is crazy.

Also be aware that we have a hanging man and this could indicate a reversal on this stock.  However higher volatility can create a break out for this stock.  Keep watch.

TradeSmart