I don’t expect it until the week after next, if it really does happen. Big plunges don’t seem to happen until after January opex.
Look at a weekly chart of $RUT dating back to 2008. I see a neckline at 750. That was also the April 2010 highs. My bullish biased expectation is for a 6-7% correction in $RUT back to the neckline then another explosive move up. Although it seems insane, the IHS target is 1150 for $RUT.
Still trying to think of a bearish-biased scenario, but having some trouble with a target.
I’d looooove to see this market roll over though. Like little Toby at the hot dog stand. LOL. Sorry, it was a little slow so I could not resist.
Dont drink and blog! Or Red will make me to go over to marketWatch.
It’s still there Z. They must have changed something because now it’s like MySpace…. a big long number for an ID instead of your username.
http://www.facebook.com/profile.php?id=100001033635101
Red, you must be one bad muther effer—cause now they ( the ganster’s) took your facebook site down—
http://www.facebook.com/reddragonleo
so the world does end in 2012, I knew it! I’ve been saying all along!
we haven’t even reached the fakeprint yet 11818– You’re trying to spook me.:) it’s working!
I’d send zz to marketwatch anyway!
😉
sort of interesting dates for pullbacks 1st Q over at Tim Knights site.
http://slopeofhope.typepad.com/.a/6a00e00989822288330147e19a6716970b-800wi
Another thought — Friday’s candle was too bullish. Waiting for a hammer/hanging man candle at a slightly higher high to short this thing.
I don’t expect it until the week after next, if it really does happen. Big plunges don’t seem to happen until after January opex.
Look at a weekly chart of $RUT dating back to 2008. I see a neckline at 750. That was also the April 2010 highs. My bullish biased expectation is for a 6-7% correction in $RUT back to the neckline then another explosive move up. Although it seems insane, the IHS target is 1150 for $RUT.
Still trying to think of a bearish-biased scenario, but having some trouble with a target.
Don’t worry, I’m not that mean! Sending you over to marketwatch would be unreasonable punishment. 🙂
What level to think the spy/spx can go down to next week for a backtest?
I’d looooove to see this market roll over though. Like little Toby at the hot dog stand. LOL. Sorry, it was a little slow so I could not resist.
Dont drink and blog! Or Red will make me to go over to marketWatch.