CHESSNOID

Last night, I decided to go from all cash on my UpDown.com simulation account to all stocks. I put the market orders in last night in 5 ETFs that bet against the market going up. So whenever the market goes up I lose money and when the market goes down I make money. I looked at the P&F technical charts and they just turned bearish a few days ago. The federal reserve will come out with its assessment later this morning and hopefully the investors react favorably to my selections. As of right now, all my selections are down because all the indexes I picked are up.

Fundamentally, long term I don’t think the markets will go up and this temporary bounce will turn around soon based on the reports that come out of how our economy is doing.

Right now I am getting burned but I am hoping this turns out for the best. My plans if this reverses by the end of today is probably to sell everything at the end of the day. I have not put any limit sells on these positions. I will be surprised if the Federal Reserve can inspire confidence with the investors. If they can then this market will bounce higher before it sinks.