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Market Correction Still Coming
Posted on April 8th, 2010 3 commentsWow, I’m a bit surprised myself that the S&P has stayed above 1160 for this long, in fact it hit 1185 which was my high point. At this point (1185), I’ve decided to start shorting the SPY and build my short on the QQQQ, the further it goes up, the more I’ll short and wait for a correction. If the S&P hits 1230 before it hits 1115, all my bets are off and I’ll take the loss. I’m confident that will not happen. Remember, the market is like an elastic, the more it stretches, the bigger the correction
Also, I’ve liquidated all my gold stocks and ETF’s until the correction takes place. The only commodity I’m still holding it physical gold.
It should be a great few weeks of trading for everyone following my lead. Enjoy!
3 responses to “Market Correction Still Coming”
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Tweets that mention Market Correction Still Coming @ Churn.ca – Churning the Markets -- Topsy.com April 15th, 2010 at 14:15
[...] This post was mentioned on Twitter by Chris Pavlovski. Chris Pavlovski said: Churn.ca Stock Tips: Market Correction Still Coming http://www.churn.ca/2010/04/08/market-correction-still-coming/ [...]
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[...] I told everyone here: Market Correction is Coming. The VIX is off the chart once again and the S&P has plunged more then 40 points from its high, [...]
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[...] at 1175 up until 1225. I had my stop placed at 1230 and my last short sitting at 1220 as stated here. If you listened to my exact words, you would of been running to the bank on Thursday! I’ll [...]
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