Friday, January 22, 2010

UWM Stopped Out

For those who got in UWM already, it has hit the stop point. What we area seeing today is continued weakness where basically every other time since March that similar conditions occurred, the market rebounded immediately. So this is a clue that the correction will probably be deeper like the Oct/Nov one, or possibly even quite a bit more than that.

So for those who did not take that trade, I would not suggest taking it at this point, as the rationale for it is now fading.

No comments:

Post a Comment