a lot of guessing going on as to where the next move is...we have gone sideways between SPX 850-920 for almost a month. VIX drying up, Bol Band pinch underway...A big move coming and not a time to be short premium. I'm gonna let Mr Market tell me more before I react. A big Happy Old/New Year to all, and have fun next year!:
spx
big [bleeep] move close?
Started by
tommyt
, Dec 31 2008 10:23 AM
1 reply to this topic
#2
eminimee
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- TT Member
- 14,307 posts
I don't care who's fur is flying...
Posted 31 December 2008 - 11:04 AM
I'll add a criminal thought...."IF" the market is going to make new lows early in 2009...and that's a big "IF' ......the major tax loss selling was done in late November and very early December to take advantage of the 30 day rule to buy back in the New Year...
...if there is heavy selling to come...it will most likely come after the buy back has happened...that could mean we see 920 again at least ...but more than likely the 940 area.
