Okay, recently the bull has been running wild and major technology stocks have gained pretty much recently. Apple (AAPL ($288.92 9/23/2010 / $514.85 0.00 0.00% Now / +78.20% Change)), GOOGLE (GOOG ($513.48 9/23/2010 / $614.00 0.00 0.00% Now / +19.58% Change)) , Netflix (NFLX ($160.47 9/23/2010 / $117.40 0.00 0.00% Now / -26.84% Change)) -  Oh, by the way, today Blockbuster filed for the bankruptcy and that helped Netflix to gain some more today .

I been monitoring NYSE summation index (you can check out here ) graph almost everyday. Since I posted last time on Sep 1st, the index has been growing uptrend and was really nice. Now it has turned into negative territory today. I can only guess that it’s headed for downward direction and so I advise you to hold tight for the possible falling price bear action. The market is overbought and some correction is clearly expected.

image

Now, I just bought some BGZ ($13.08 9/23/2010 / $22.45 0.00 0.00% Now / +71.64% Change) (Direxion Daily Large Cap Bear 3X share) . I don’t expect too much but if this works, it will pretty much confirm NYSE index is pretty good indicator to see the market future.

I do believe that, even if the correct comes , the bear will not stay much longer since the earnings season and shopping season are around the corner. When the direction of the chart turns into positive area,  we can start buy some quality stocks again.

Thank you for visiting How to buy stocks.

You don't have online trading account yet? Why don't you join Zecco.com? Zecco provides quality trading platform with the lowest fee per trade $4.50 and free trades under some conditions.