2 replies to this topic

[dcengr]

The bears tried real hard. I commend them. But the fact is, they got no more money left. We need to move up. And I think it'll be a fairly strong move up from here, for at least a week. I dare say Dow 13,700 or 13,800. As soon as we break above SPX 1484, it will become crystal clear to many that they need to be long, and the buying panic will begin. BUT.. Once we hit Dow 13,700 ish, I have to see if theres any short fuel left to take it higher. There's a pattern I'm watching.. that says if we rally hard for a week, we can have a mini-crash the week after. That is my FF. Its worth about .02.

[nicolasillo]

The bears tried real hard. I commend them.

But the fact is, they got no more money left. We need to move up. And I think it'll be a fairly strong move up from here, for at least a week.

I dare say Dow 13,700 or 13,800.

As soon as we break above SPX 1484, it will become crystal clear to many that they need to be long, and the buying panic will begin.

BUT.. Once we hit Dow 13,700 ish, I have to see if theres any short fuel left to take it higher. There's a pattern I'm watching.. that says if we rally hard for a week, we can have a mini-crash the week after.

That is my FF. Its worth about .02.

You must have some very good source if you know the Bears got no money left! I hope one day you can share that with us Because you made an assumption, I ll make one too. I believe that as the volume has dropped, big players are on the side waiting for the FED, while day traders are rulling the market at the moment and that s why we see this kind of market all week.
By the way, last week the market broke and closed above 1484; did not see any buying panic. Yet again, don t take me wrong, I am bear and got scared last week when SPX was above 1490 and closed at 1489.

[eminimee]

I'd be very cautious of the long side.....chop into next Tuesday afternoon wouldn't surprise me...but a swoosh to 1440 or lower wouldn't surprise me either..

http://stockcharts.com/c-sc/sc?s=$NYAD&p=D&yr=0&mn=8&dy=21&i=p93885099430&a=113409410&r=2806.png