Obama State of the Union is the last mine in the minefield before the longs get back to aggressive buying. You could see that the longs were eager to let loose as they immediately bought after the FOMC announcement that Ben will keep rates at zero forever. Now the nervous longs will wait to buy after the bad news passes. Sell the rumor, Buy the news? That's probably the case for tonight, I expect a gap up tomorrow as "relieved" longs buy after realizing that Obama won't take out the banks as his main agenda.I expect us to test 1103 tomorrow and may get as high as 1105.
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How high do you think we'll get ultimately? And when.
I'm bearish on the US economy. It's obvious to me the economy is on life support.
I don't know ultimately. I think we have another leg higher in this cyclical bull. Maybe up to 1220. I am also a long term bear on the US economy, but that doesn't really help to pay the bills.
Yeah I don't doubt that there will be a great opportunity to get long from around 900 to 1000 in the early part of the middle of the year and then we can perhaps go to 1200.
amazing calls
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