All three major indexes are free falling now and have broken through major support levels - this is getting very scary. And things will not get better until the current Obama Administration releases details on the bank bailout plan which is expected on 03-04-09.
Graph of the DOW going back to 2000:
http://investertech.com/tkchart/tkchart.asp?stkname=$DJX0X&wt=3&ind=nn
Graph of the S&P500 going back to 2000:
http://investertech.com/tkchart/tkchart.asp?stkname=$SPX0X&wt=3&ind=nn
Graph of the NASDAQ going back to 2000:
http://investertech.com/tkchart/tkchart.asp?stkname=$COMPX&wt=3&ind=nn
Let's not forget the emotional aspect of the markets and short covering. The moment they come out with a solid plan to rescue the major banks and other financial institutions, we will have a rally to the up side...
Let's keep our eyes wide open and position ourselves for the BIG movers and stocks that will benefit from a recovery:
PCLN, ISRG, AMZN, AAPL, GS, BIDU, GOOG, HIG, PNC, STT, MS, DRYS, FSLR, MON, POT, MOS, ENER, ESI, IBM, CME, ICE, OIH CECO, STRA and SOHU.
Enjoy trading!
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