Comments on: Another Volatile Day… http://reddragonleo.com/2010/01/28/another-volatile-day/ Sun, 01 Aug 2010 10:52:22 +0000 hourly 1 http://wordpress.org/?v=3.0 By: Red Dragon Leo http://reddragonleo.com/2010/01/28/another-volatile-day/comment-page-1/#comment-5239 Red Dragon Leo Sat, 30 Jan 2010 02:53:01 +0000 http://reddragonleo.com/?p=1126#comment-5239 This is probably a fake breakout (of the rising support line) to lure in more bears. It needs 2 days below the line to confirm the move. If so, then 104.00 spy is next level.<br><br>I still believe we will rally all next week, causing a short squeeze on the bears that went short at the end of the day. Many people seen that trend line break today (108.00) and jumped on short.<br><br>I think it's a fake move. I'm down a little on my USO calls as the closed at $1.41 today and I bought them at $1.60. But, the UUP (the dollar) tagged the 200dma today and should pull back for a few days.<br><br>That will rally the market and commodities. So, I can still see the USO going up to 38 by the end of next week, and the SPY could go back up to 111-112 area.<br><br>I'll know more on by my weekend post.<br><br>Red This is probably a fake breakout (of the rising support line) to lure in more bears. It needs 2 days below the line to confirm the move. If so, then 104.00 spy is next level.

I still believe we will rally all next week, causing a short squeeze on the bears that went short at the end of the day. Many people seen that trend line break today (108.00) and jumped on short.

I think it's a fake move. I'm down a little on my USO calls as the closed at $1.41 today and I bought them at $1.60. But, the UUP (the dollar) tagged the 200dma today and should pull back for a few days.

That will rally the market and commodities. So, I can still see the USO going up to 38 by the end of next week, and the SPY could go back up to 111-112 area.

I'll know more on by my weekend post.

Red

]]> By: Scraoppy http://reddragonleo.com/2010/01/28/another-volatile-day/comment-page-1/#comment-5238 Scraoppy Sat, 30 Jan 2010 02:46:04 +0000 http://reddragonleo.com/?p=1126#comment-5238 Red<br><br>Whats your thoughts now about next wk? thought they would hold it up today - but - no deal<br><br>thx Red

Whats your thoughts now about next wk? thought they would hold it up today – but – no deal

thx

]]> By: Red Dragon Leo http://reddragonleo.com/2010/01/28/another-volatile-day/comment-page-1/#comment-573 Red Dragon Leo Fri, 29 Jan 2010 20:53:01 +0000 http://reddragonleo.com/?p=1126#comment-573 This is probably a fake breakout (of the rising support line) to lure in more bears. It needs 2 days below the line to confirm the move. If so, then 104.00 spy is next level.<br><br>I still believe we will rally all next week, causing a short squeeze on the bears that went short at the end of the day. Many people seen that trend line break today (108.00) and jumped on short.<br><br>I think it's a fake move. I'm down a little on my USO calls as the closed at $1.41 today and I bought them at $1.60. But, the UUP (the dollar) tagged the 200dma today and should pull back for a few days.<br><br>That will rally the market and commodities. So, I can still see the USO going up to 38 by the end of next week, and the SPY could go back up to 111-112 area.<br><br>I'll know more on by my weekend post.<br><br>Red This is probably a fake breakout (of the rising support line) to lure in more bears. It needs 2 days below the line to confirm the move. If so, then 104.00 spy is next level.

I still believe we will rally all next week, causing a short squeeze on the bears that went short at the end of the day. Many people seen that trend line break today (108.00) and jumped on short.

I think it's a fake move. I'm down a little on my USO calls as the closed at $1.41 today and I bought them at $1.60. But, the UUP (the dollar) tagged the 200dma today and should pull back for a few days.

That will rally the market and commodities. So, I can still see the USO going up to 38 by the end of next week, and the SPY could go back up to 111-112 area.

I'll know more on by my weekend post.

Red

]]> By: Scraoppy http://reddragonleo.com/2010/01/28/another-volatile-day/comment-page-1/#comment-572 Scraoppy Fri, 29 Jan 2010 20:46:04 +0000 http://reddragonleo.com/?p=1126#comment-572 Red<br><br>Whats your thoughts now about next wk? thought they would hold it up today - but - no deal<br><br>thx Red

Whats your thoughts now about next wk? thought they would hold it up today – but – no deal

thx

]]> By: Red Dragon Leo http://reddragonleo.com/2010/01/28/another-volatile-day/comment-page-1/#comment-571 Red Dragon Leo Fri, 29 Jan 2010 11:48:56 +0000 http://reddragonleo.com/?p=1126#comment-571 I wouldn't be surprised if we rally to 112.00 spy by next Friday. I think the GDP numbers will start the rally today. I wouldn't be surprised if we rally to 112.00 spy by next Friday. I think the GDP numbers will start the rally today.

]]> By: steveo77 http://reddragonleo.com/2010/01/28/another-volatile-day/comment-page-1/#comment-570 steveo77 Fri, 29 Jan 2010 07:45:54 +0000 http://reddragonleo.com/?p=1126#comment-570 Good point....how many people could hold a position over this weekend? <br><br>One of my account is up 25% this year, other one, 2%. I may just flatten both of them and go hiking this weekend!!! Yeah!! Good point….how many people could hold a position over this weekend?

One of my account is up 25% this year, other one, 2%. I may just flatten both of them and go hiking this weekend!!! Yeah!!

]]>