Sundancer, just wanted to chime in and say that I enjoy your comments.
I agree that we will have a big gap on Tuesday, and concur that it seems likely to be up. My analysis of the $VIX fractal suggests that there is a possibility that we could gap down, with the $VIX opening near the 200 day MA. This gap would be fiercely bought and probably closed by the end of the day. The next day would likely be very bullish. I think there's a good chance we see SPY 110 next week.
Some of my members had a great $$ week, including myself My daily guidance graph has proved itself valuable others at my yahoo group agree on FEb 16-17 high with a deep cut right after into the 25th. March will be a month to remember, especially for Red and all other bears, me too,gg, but do watch out for those 1 & 2 day miracle rebounds which always occur in strong downtrends. Jay
The $VIX set a new low for the week, while the indexes did not set new highs (exception: $RUT). SPY is holding pretty solidly at these higher levels after hours. It is a puzzling divergence. I think we have a big gap on Tuesday, up or down, don't know which. I kept a small amount of TZA calls, hedged with a small amount of SPY calls.
I clearly have not seen the big picture here, as I must be reading the charts wrong. I do appreciate your posts. You have been right on this move higher, as I wasn't.
It seems the bulls can keep pushing this until all the bears are gone. What did you think of the closing action? Lots of buyers came in and pushed the tape higher afterhours.
Does that usually mean a follow through the next week, or a fakeout?
I should have remember my own post from awhile back…
http://reddragonleo.com/2010/01/11/97-point-drop/
I would have bailed out when the market hit that level on last Friday. Sheesh… I need a bigger memory chip in my head. (LOL)
bear cuddle for some warmth..
GLD/SLV ratio goes up today..
have a good weekend.
Always a fun read:
http://kunstler.com/blog/2010/02/were-weimar.ht…
Sun, I concur with Dread in saying that I too have enjoyed your post this week. Thanks and have a nice long weekend.
Mark this moment in time, because I probably won't be accurate to $0.01 for a long while!
Sundancer, just wanted to chime in and say that I enjoy your comments.
I agree that we will have a big gap on Tuesday, and concur that it seems likely to be up. My analysis of the $VIX fractal suggests that there is a possibility that we could gap down, with the $VIX opening near the 200 day MA. This gap would be fiercely bought and probably closed by the end of the day. The next day would likely be very bullish. I think there's a good chance we see SPY 110 next week.
I'm glad you had a good week Jay. Mine is horrible.
Some of my members had a great $$ week, including myself
My daily guidance graph has proved itself valuable
others at my yahoo group agree on FEb 16-17 high with a deep cut right after into the 25th.
March will be a month to remember, especially for Red and all other bears, me too,gg, but do watch out for those 1 & 2 day miracle rebounds which always occur in strong downtrends.
Jay
The $VIX set a new low for the week, while the indexes did not set new highs (exception: $RUT). SPY is holding pretty solidly at these higher levels after hours. It is a puzzling divergence. I think we have a big gap on Tuesday, up or down, don't know which. I kept a small amount of TZA calls, hedged with a small amount of SPY calls.
I clearly have not seen the big picture here, as I must be reading the charts wrong. I do appreciate your posts. You have been right on this move higher, as I wasn't.
It seems the bulls can keep pushing this until all the bears are gone. What did you think of the closing action? Lots of buyers came in and pushed the tape higher afterhours.
Does that usually mean a follow through the next week, or a fakeout?