Online Stock Trading | Stocks Take a Giant Step Back

Stocks Take a Giant Step Back


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Volume eases across the board but negative price action calls into question Wednesday’s Follow-Through Day.

Following a FTD by the market, a strong market would show immediate gains.  However, we are living in a different market at this point in time.  The 50dma proved to be too much for the S&P500 as it got hit hard from that level.  Volume eased from Wednesday’s level but the steep negative price action tells a bigger story.  This market is still far too toxic to get heavily long in anything but gold, silver, and platinum.

AGQ and UGL are looking primed to make a run along with PTM, but the moves that can be made by AGQ and UGL could be something we haven’t seen in a long time.  The massive printing of money being done by the Federal Reserve is unprecedented and quite frankly has NEVER been done before.  Simply printing money has major consequences and could lead to further economic decline in the future.  At our current pace, we aren’t too far off from this happening.  Be ready.

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One Response to “Stocks Take a Giant Step Back”

  1. Stocks Take a Giant Step Back : Monster Stock Trader on January 30th, 2009 3:01 pm

    [...] Stocks Take a Giant Step Back Share and Enjoy: [...]

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