Awaiting Buy Signals in Short SPY (SH)
Stock-Markets / Stock Index Trading Sep 15, 2009 - 08:49 PM GMTBy: Mike_Paulenoff
If at any point the ProShares Single Levered Short SPY (NYSE: SH) manages to climb above yesterday’s pre-open up-gap high at 57.59, I will get buy signals to be long in anticipation of a powerful countertrend move in the major equity market ETFs. Unless and until that happens, however, the dominant near and intermediate trends will remain down for the SH.
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By Mike Paulenoff
Mike Paulenoff is author of the MPTrader.com (www.mptrader.com) , a real-time diary of Mike Paulenoff's trading ideas and technical chart analysis of
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