Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Tuesday, the 4th of October.
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It's official! We are in a BEAR MARKET in the SP500.
For MarketClub members this is old news, as we alerted all members to either exit or place short positions on the S&P500 on August 2nd at 1258.07. That's over two months ago!
How much further do we have to go on the downside? That's a legitimate question, however, with Bear markets they tend to persist longer and take more pain than most investors are willing to sit through.
As you know from watching our videos, we are projecting lower levels for the S&P 500, as well as the banks and financial institutions. Those moves on not over yet.
In today's presentation, we will be talking about three markets that are in the news. This will be a regular feature and we will try to bring you information that is timely, informative and educational. We will be talking about stocks, the Forex markets, and the futures markets.
Here are 3 markets that are in the news:
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3 STOCKS IN THE NEWS
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AMR - Trade Triangle (Monthly) short from $7.02 on 2/01/11.
Now trading @ $2.33
BAC - Trade Triangle (Monthly) short from $13.16 on 4/14/11.
Now trading @ $5.43
AAPL - Trade Triangle (Monthly) long from $355.13 on 7/07/11.
Now trading @ $379.93
Now let's go to the 6 major markets we track and update every trading day and see how we can create and maintain your wealth in 2011. Continue reading "It’s Official, We Are In A Bear Market For the S&P 500"
