Thursday, February 23, 2012

Won't Let The Bears Escape

The market continues to move higher and just won't let the bears escape. It teases the bears by continually doing small sell off just to lure them to short into this market, then the market reverses and move higher to trap them bears. The SP500 is near breaking above the 1370. After breaking above the 1370, the next major resistance level will likely be 1425 near the 2008 high.

Here is a video highlighting the possible level for the SP500, and three stocks; VRSN, SNDK, and AA that are breaking out of its base.

Click on the full screen icon to view the video in HD.

Here is the link for the video.

Disclosure: long on VRSN, SNDK, AA

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