I've got a buy here that runs to 1260. I don't trust it yet and it needs immediate upside to work. I think its got a chance though, we've got a lot of bears out there and in need of a big bear market rally. If its the real deal, there will be no mistaking it.
One of my scenarios goes directly to 123x but not as high as your target. However scenario 1 seems more logical: last 3 days bottom does not look like IT bottom , just ST type so probably they need to break it and print a lower , stronger one, that would propel us to 1260-70.
For good or bad, Friday Fed event will accelerate resolution IMO.
I see two patterns possible here. One takes us to 1250 from here. The other keeps going down. I'm staying open to both. I do favor one more high, but its a bear market so that's speculation.
covered half at 1131
ReplyDeleteSL moved at 1124
ReplyDeleteSTOPPED for remaining at 1124
ReplyDeleteI've got a buy here that runs to 1260. I don't trust it yet and it needs immediate upside to work. I think its got a chance though, we've got a lot of bears out there and in need of a big bear market rally. If its the real deal, there will be no mistaking it.
ReplyDeleteOne of my scenarios goes directly to 123x but not as high as your target. However scenario 1 seems more logical: last 3 days bottom does not look like IT bottom , just ST type so probably they need to break it and print a lower , stronger one, that would propel us to 1260-70.
ReplyDeleteFor good or bad, Friday Fed event will accelerate resolution IMO.
GL
Pata, you still long? I entered longs around 1160 today, SL at 51. You still on board for a trip up to 1230ish?
ReplyDeleteBE careful today with the JH thingy they may brush out ppl before ralling. Other than that I like your trade
ReplyDeleteWell you sure nailed that. I got stopped out, reentered lower. Great call, Pata. I'm flat now, wondering if this ST rally is about done.
ReplyDeleteCLOSE to its end IMO
ReplyDeleteEl 30/08/2011 04:57, "Disqus" <>
escribió:
I see two patterns possible here. One takes us to 1250 from here. The other keeps going down. I'm staying open to both. I do favor one more high, but its a bear market so that's speculation.
ReplyDelete