Sunday, May 23, 2010

Just a Heads Up

This post is a just-in-case post for a scenario where the market gaps down big tomorrow and doesn't appear to follow through on this rebound.

If there is a big gap down indicated tomorrow, then I would suggest removing the sell limit order on SPXU and place a stop instead at 34.85ish/Friday's low. The market/S&P 500 SHOULD hold Friday's low for at least several days. If it doesn't then I truly believe there is a chance for a "crash" type scenario.

I have looked at charts of several countries' stock indexes, and I do think a sharp rebound is most likely, but I just want to have a general plan if that doesn't take place. I may post in the AM tomorrow.

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