Thursday, March 11, 2010
Squeeze Continues
This market is hell bent on killing all bears before collapsing. The trading is quite curious and its something that looks like its taken from the pages of 2009. I think rollover had something to do with the squeeze at the end of the day. No strong opinion on gap for tomorrow. This market probably needs to get cleanly through 1150 before we can make a significant move down. I think 1155-1160 could be the top before we go dripping back down.
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8 comments:
We have a double top on the SPX. We're suppose to drop but are we going to? That's the million dollar question.
Owl as you say they are determined to kill all the bears. Crossing the highs will trigger all kinds of stops and may bring its own momentum.
We overshot the top in January. I can't say its a double top anymore. It looks more and more like a breakout. We're up 10 straight days on the futures.
So why are we shorting a breakout? Should we at least cover?
I'll ride it out, I think there is 10 points upside maximum, and I see a very real possibility of going to 1028 by middle of next week.
wHAT'S THE DOWNSIDE DAWG?
aNOTHER 5% WHO CARES.
wE ARE ALREADY DOWN 11/12%
YOU CAN BE DOWN 20% TO COME BACK AND BE UP 10%.
cRAPPY WAY OF MAKING 10% I AGREE BUT THE OL DAWG IS AN OL DAWG AND SEEN IT ALL.
We didn't overshoot the top.
The 52 week high was made back at the top in January.
Today we missed by quarter point.
Watch we're gonna tank it hard core.
hard core dawg. I will buy more DRV tomorrow.
Bill Parcells once famously said "You are your record!" Let your balance speak for itself. No use in speculating/justifying what will or what has happen.
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