Monday, August 24, 2009

Status of SSG


We bought SSG at the same time as DXD and QID. The latter two have broken support and had to sell them this morning. SSG seems to be bouncing off it's support level which is promising for this position. Also, if this support level holds, it speaks poorly for the market in general. This position is short the semi-conductor sector. This sector usually goes south prior to the rest of the market. SSG bottoming at this level would say that the market is going to go south shortly.


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