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Forum - Wall Street Pit (ProShares UltraShort S&P500 - SDS)    Stock Due Diligence for All

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From: rpccpa (Rep: 1510)Date: 02/19/2008 13:52
Forum: Wall Street Pit - Msg #1266826 - List SDS msgs No Thread (Rec: 0)
SHort UltraShort SPX @ Market - Whipsaw action in the ProShares UltraShort Inverted SPY ETF (AMEX: SDS) since Friday morning's surge that tested the Jan-Feb resistance line at 64.20. However, technically, that test failed! Now we find the price structure probing the vicinity of its opposite number: its Jan-Feb support line, now at 60.60, which must contain any forthcoming weakness to avert a potential downside acceleration (that represents a powerful advance in the major equity market ETFs). If the bears were in the drivers seat last Friday morning, they now find themselves on the defensive.



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