Friday, February 10, 2012
Strong Resistance
There is a lot of resistance at this 1350 level, which is where we failed to break out last year. The market is also up 90 points in 40 days. So we are a bit overextended. We will likely be range bound between 1300 to 1370 for the next couple of months. I prefer to be a buyer of dips rather than a seller of strength. Really not a good trading market, so I wait for good spots to get in or do nothing. Greece news is brought up because there isn't anything else to talk about, it really doesn't matter to the US market anymore. We're past that chapter.
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5 comments:
volatility on the rise tho. expecting much wider ranges than the first 6 weeks of this year so far.
that was dumb to sell the TVIX
Scared DAwg
Hehe ... was signal to buy TVIX. +$6 ... not too bad. Thx Dawg !
U did good dawg.
I am also long BOIL since 12. I think this one goes to 20 soon.
ol dawg
my take- still waiting.
I have some longs. More than 1/2 in cash. Waiting like everyone else for a decent pullback.
We still haven't really moved off the 1351 mark? If we pushed into 1360+ i would put some $$ in and believe in this move.
Feels toppy. But who sells and why?
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