Will not have a chance to post updates till around 11:00AM. Will talk to you then.
On a side node ... look at the dollar (UUP), broke out, very strong volume the past week and most importantly on the 60min we have a strong bottoming sign on 6/2/2009 via MACD.
Either way - will be back later and sorry for no post this morning.
money never chaugsy...money never sleeps. run your errands on the weekend.
ReplyDeleteyeah I know ... we finally are getting the real signs of a turn here and I have to be away all the time =)
ReplyDeleteFirst Friday, then today. At least I am here now.
i think we trade down to the 200 moving day (918) today and bounce off there.
ReplyDeletelets see ... market is refusing to break down it seems. Still 100% cash just watching here. Of course very itchy fingers trying to get a piece but holding back.
ReplyDeletetake the skirt off chaugs...get back in there and trade!!
ReplyDeletesoon enough =) I may even be a buyer for the short term (that means you guys can short).
ReplyDeletewatch out folks. I am truning into bull too. at least for couple of days. tomorrow should be huge gap-up. If this retraces to reasonable level may buy calls. 960s could be a target.
ReplyDeleteStill in awe at the party tricks they are pulling here. However, I will continue to play along and buy the dips until this nonsense ends. Picked up some more depressed oil names today. Hopefully I can pawn them off later this week for higher prices.
ReplyDeletechaugs and sama m are getting bullish...thats the best case i've heard for the bearish scenario. i'm shorting big time! : )
ReplyDeleteyou in hiding chaugs?
ReplyDeletelost all my money and trying to figure out what to do with my future lol
ReplyDeletejust kidding, nah just watching. Had some bad food last night and not feeling all that hot today.
Sorry for not having put up more updates. 947 is important and should be taken out on the upside either today or tomorrow.
Next targets are still the same 956-964. Will be short there but only short term. I am still afraid of the 1014 I had talked about a few times and its definitely possible.
At the same time, 930 is not clearly support yet as we are barely 20 pts away from that point. Yes we have held above it for quite a while now but it could reverse quickly unless we can distance ourselves a little more. Remember that buffer zone I was talking about for support/resistance. We are still within that zone so everything we have done the past week could reverse - not saying it will and to be honest do not think it will - but have to keep that in mind.
Dollar at turning point - not sure where it will head quite yet. Patience is a big thing at the moment. Wait for the market to show us.