GS - Goldman Sachs - Support

20 EMA broke down under 50, at key $150 support.  Break that then it's game over.

NFLX - Netflix - Overbought

Netflix - great fundamentals, growth prospects, but way overbought on daily, weekly, and monthly charts with daily RSI > 86.  Chart clearly shows a parabolic move.  Likely to break higher tomorrow in the AM for a quick pop on short capitulation and fall for the rest of the day. 

Short entry ~$110, cover half at $100, rest at $90, stop loss at $113.

Market Update - 4/10/2010

You may have noticed that this blog isn't updated regularly like some of the other trading blogs.  That is actually intended.  Over trading and over thinking is often a common mistake by traders, both experienced and novice alike.  When the trend is intact, just sit back and relax; no need to analyze on a daily basis.  I have noticed many bloggers angry and fed up with the market since the start of the run-up after the January correction.  Many believe that this run up is government induced, fake, and must crash soon.  Of course, these same lines of thoughts are repeated day after day, all the while the market is hitting 52 week highs.  Folks, we are now in a bull market, and there will be no crash.  Indexes are way above moving averages in a strong uptrend, and believe me, there will be plenty of signs if a crash were to happen.