Wednesday, July 15, 2009

Here is the current SPY hourly chart...

Click for larger... Browser back.

Notice that the downtrend has been broken.

I took the loss in my short positions (article below) and took a few hours off to mourn the loss of my invested capital.

Upon returning, I got to work and recouped some of the loss by daytrading a few short interest stocks.

Market volatility is picking up, therefore, this would be a good time to consider daytrading. Do be careful though, three updays cry out for a profit taking pull-back.

15% of the earnings reports are due this week.... the remainder next week. Be cautious!

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