All markets took a beating today but I
wanted to point out that the S&P500 broke its last resistance on July 31st (see my blog entry). Is the next stop 1360? Technicals rarely lie, particulary when they are supported by reliable measures of market volatility such as the volotility index (VIX). Predicting the future is not my specialty and rarely is it worth the effort to proclaim an ability to predict. What is the bottom line? The technicals definitely support the bear.
Ambac Financial (ABK), leading the S&P500 dogs with a -6.47% loss on the day.
Aug 3, 2007
S&P 500 losing ground, So much for large cap
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1 comment:
Dear OptionNewbie, found your blog from JMOT's..congrats on starting a blog on Optiontrading, looking forward to reading more on your posts.
profitable trading, Op
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