The Dow broke its November low today, possibly leading the way for the other indexes.

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The Dow could be forming a double bottom pattern on the weekly chart. It needs a lot of work to confirm of course, but something to watch.

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I have been sampling the service over at short-stocks.com. I haven’t taken any of their trades, since  I rarely short stocks, but follow along to their real time recommendations. Last week, they called for a fearful plunge lower, which could mark the bottom. Today, they sent out an email suggesting that tomorrow could be the bottom of this market, and they may buy it if there is a 450-600 plunge in the morning. A brave call.

I am not too interested in trading tomorrow. Although some of the stocks in the Watchlist had held up earlier this week, some took huge hits today and have been removed.  I only have one stock to add to the Watchlist, an ETF actually, and a bearish one.

Trade Ideas for 02/20/09:

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See Watchlist for other stocks.

Good luck and good trading!