DOW JONES Industrial Average down 2.94%, Nasdaq down 3.67% and S&P down 3.35% today due to slumping retail sales. Oil price was stabilized at $37, Gold down to $808, other precious metal prices declined as well.

As mentioned earlier in previous post, More Red Alert to come, the market sentiment has started to turn sour, it is only a matter of time and what will pull the trigger. 

I have been praying hard for my trade for QQQQ to be bearish, this was one of the toughest trade I have been through, the total loss could be summed up to USD2K if the market really goes up, though it is unlikely to happen at the momemt. Market was up during year end mainly due to window dressing, and investor injected money to the market to boost up the market sentiment for a short while. 

Then the market started to pull back after more realistic results is out like the jobless claim, retail sales, and also more and more bad earning report will be shown up. Now its back to reality and face the fact of the recession and bad economy. 

My Trade on QQQQ: 

• Strategy: Bear Call Spread (28/30) x 20 (I have accumulate position over a period of time) 
• Total Sell price: 1.10
• Total Buy price: 0.9 
• Profit/Loss: ~ + USD400 

DOW JONES Industrial Average Analysis:

• DJIA has been tumbled for the 6th day after the red alert shown on Jan 7, 2009.
• Next Support at 8100, very close to today closing price, next session may be able to hold up by support line

MACD and Slow Stochastic show there is more room to go down further, Bearish volume is continue build up.

News to Watch: 

• Apple’s Jobs to take medical leave
• Wall Street slides on retail sales slump, corporate weakness