If the bears can push it to 42.50 today, on monday, it will gap down below it and run like a mofo.
There is gigantic futures position that kept loading up there based on COT. That is why its been defended rather well. If/When that area is breached, you will see the mother of all margin calls take place.
Until that time, there's no fear. Can the bears push it to there today? We shall see. But to me, thats the strategic pivot point.
As I said the other day.. very key pivot is Qs 42.50
Started by
dcengr
, Mar 02 2007 10:15 AM
1 reply to this topic
#1
dcengr
-
- Traders-Talk User
- 13,391 posts
Member
Posted 02 March 2007 - 10:15 AM
Qui custodiet ipsos custodes?
#2
dcengr
-
- Traders-Talk User
- 13,391 posts
Member
Posted 02 March 2007 - 10:53 AM
Btw, if there's any tape painting to be done today, I expect it closer to the close, when the bulls can't do jack about it.
So I don't expect anything but flat action while da boyz load up on shorts til near end of day. Then bam, before close, da pour. That's a FF.
Qui custodiet ipsos custodes?
