Thursday, January 28, 2010

1081-1083 is Now Resistance

Are we going to pull off one of those tricks that this market has always done when there was a big dip, and ram a rally into the close?  I am not betting on it.  Serious technical damage has been done, and we will need to do some work at lower price areas and consolidate before springing higher.  Bernanke is keeping the bears at bay for the moment with his imminent confirmation but that is pretty much priced in.  I am staying short.  Target is the mid 1060s.

2 comments:

Anonymous said...

I hope your wrong.

Anonymous said...

I didn't write that dude.

I hope you make money and me too.

Anyways, I hope you cover and we go up, because I have been long since last Friday.