Friday, August 26, 2011
Buy 1130 Sell 1180
The market carved out what I believe to be the trading range over the next week between 1130 to 1180. Right now, we are closer to the upper end of the range and you have to be cautious going long, or want to start shorting. This morning, the market bounced strongly from 1133, the lower end of the range. You cannot expect outsized moves and get greedy. The market will go back and forth for the next 2 weeks before eventually going lower to crack 1100.
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6 comments:
Hey finally on the same page. That's a bad omen.
Hehe ... not really ... up from here ... dude watch the triangle on SnP.
End of the month/quarter. hedge funds need to reload. We contiunue up to 1220-1235 range.
Sell 1250
Sell 1350
1130 & 1180 is too tight. Consider that open long or short interest is swaying to extremes in a matter of a week.
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