Wednesday, February 18, 2009

February 18th - Stock Market Review

Current Portfolio - 109,668$ but we have a big losing position.
Open position - QLD 4800 at 26.80
UYG 7000 at 3.09

QQQQ - Opened with a gap of almost 3% down . is at the support level 29 , Is it going to hold ? probably not.

GLD - The gold is going probably to 100 and more.

DIA - Is the weakest probably going to test the 74

XLF - Already 36% down this yeart and almost 80% down from the beginning of the bear market .The XLF is at the support level 8 dollar and the big quastion if it's going to hold, probably not , the market is too weak.

SPY - Clearly in a down trend , no sign for a change.

USO - WOW... what a drop 8% , no sign for a change in the oil.

EURO/US DOLLAR - Break the 1.275 a probably going much lower , at least to test the 1.23 .