Trade Setups for May 4, 2010
Once again, we have another day where things are looking drastically different from the day before. Heading into the open the futures are bleeding red across the board. Rumors are flying everywhere in regards to debt ratings - from Japan to Spain, and Greece is once again trying to re-invent the wheel on how we can take the same news that has been known for months and report it in a manner that will make investors want to scurry for the exits. To say the least, the market is a bit loony these days - up big, down big, up big, and down big again.
Bulls could make a huge statement today though, if they can rally off of these lows being presently seen in the pre-market and finish in the green or close to it. If that happens I think the market will likely be motivated enough, going forward, to break the previous highs.
Here are Today's Trade Setups...
LONG: TYCO Intl (TYCO)
Click Here to See My Short Setup for Today.
