Effective Stock Trading » freefall http://www.effectivestocktrading.com Stock Trading Tips, Techniques, and Reviews To Help You Become A Better Stock Trader Thu, 25 Mar 2010 16:32:34 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 DOW Makes New Yearly Low http://www.effectivestocktrading.com/dow-makes-new-yearly-low/ http://www.effectivestocktrading.com/dow-makes-new-yearly-low/#comments Thu, 26 Jun 2008 23:49:49 +0000 Tony http://www.effectivestocktrading.com/dow-makes-new-yearly-low/

On June 13, 2008 I mentioned that we were closer to the yearly lows than the year highs. I also mentioned that I wasn’t going to predict that we will soon test the yearly lows. As it turns out we did begin to test the yearly lows.

On June 22, 2008 I stated, "I’m not going to make a prediction of a potential freefall here, but there really isn’t much support below where we are now."

Well, today, June 26, 2008 we did actually have a bit of a freefall. The DOW closed down over 3%, 358.41 points. It was a classic dead-low close ( the low of the day and the close of the day were the same).

It will be interesting to see were we go from here.

I’m not going to make a prediction here but at the current price levels it would be easy for there to be further downward movement in the DOW.

]]> http://www.effectivestocktrading.com/dow-makes-new-yearly-low/feed/ 0 DOW Tests The Yearly Lows Once Again http://www.effectivestocktrading.com/dow-tests-the-yearly-lows-once-again/ http://www.effectivestocktrading.com/dow-tests-the-yearly-lows-once-again/#comments Sun, 22 Jun 2008 19:52:54 +0000 Tony http://www.effectivestocktrading.com/dow-tests-the-yearly-lows-once-again/ In my last entry I stated that the DOW was closer to the yearly lows than the yearly highs. I also stated that I wasn’t going to predict if the DOW would test the yearly lows. That was on June 13, 2008 and the DOW closed at 12307.40 On Friday, June 20, 2008 the DOW fell over 220 points to close at 11842.69.

Well it appears that we are back on the lows again for the third time this year.

The DOW has not traveled outside of the range established in the first month of the year. Support and resistance traders won’t find much support slightly below these current levels.

I’m not going to make a prediction of a potential freefall here, but there really isn’t much support below where we are now.

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