Hi Red, here’s how I get target prices…I did one for BIDU, and $140 is EASY…maybe get it next year. Sometimes get them this year. http://zstock7.com/?p=3409
They’re not allowing this to break down today. Be careful here bears. Something doesn’t feel right. Let see what happens at the close, but the selling has been stopped in it’s tracks, and we have heavy volume today. Somethings going on…
If this support line from the 1040 low doesn’t break today, then it’s possible that they could rally it back up tomorrow, as the 60 and 30 minute are oversold right now.
The bears need a break of it today, because if it doesn’t… the bulls will be able to go back up to the high of today and take out the 1150 level once and for all.
When rumors are spread, like the one that Mr. TopStep mentioned about a big sell order into the close, we should always be leary of them, as the are usually released on purpose by the government. Of course it’s done to trick the traders into going in one direction, while the government plans on going in the other direction.
While the early morning gap up and crap call I made was right, the huge sell off could be erased if they remain above the support line today.
While I believe a break to the downside is coming soon, if you are playing options, you should consider the possible move up tomorrow… should the support line not break today.
As Anna stated, this isn’t a crash. It is just a correction, and we might have been fooled here by this move down. We need the support to break today for the bears to gain control.
Just keep tight stops, in case a bear squeeze happens? If it does, then 1160-1170 will be possible for the bulls. I don’t think it’s going to happen, but I want everyone to be ready in case the tape turn back up hard and traps us bears.
Just read the headlines about AIG and FedGovt plan to convert preferred shares (govt owned) into common shares, which the govt can sell like Citi.
What if there were collusion to help AIG out of govt control by the other big banks? Then all the Big Ones are free again. Then they can truly do what they want again.
Could this be why we’ve been going up so high? Just enough to drive up AIG’s (preferred) shares high enough to pay back their TARP loan? Just a thought…
If we get a late day rally,my stops are at a little over today’s high but it looks to me more like a trend reversal with good volume on the way down. I doubt the high will be taken. We just need a lower low to confirm a trend reversal. I think the risk-reward is good.
I mixed about what I expect for tomorrow… could go either way?
50% short and 50% long, today 9 out of 10 went the right direction. Yesterday, over half, went the wrong direction.
Hi Red, here’s how I get target prices…I did one for BIDU, and $140 is EASY…maybe get it next year. Sometimes get them this year.
http://zstock7.com/?p=3409
They’re not allowing this to break down today. Be careful here bears. Something doesn’t feel right. Let see what happens at the close, but the selling has been stopped in it’s tracks, and we have heavy volume today. Somethings going on…
If this support line from the 1040 low doesn’t break today, then it’s possible that they could rally it back up tomorrow, as the 60 and 30 minute are oversold right now.
The bears need a break of it today, because if it doesn’t… the bulls will be able to go back up to the high of today and take out the 1150 level once and for all.
When rumors are spread, like the one that Mr. TopStep mentioned about a big sell order into the close, we should always be leary of them, as the are usually released on purpose by the government. Of course it’s done to trick the traders into going in one direction, while the government plans on going in the other direction.
While the early morning gap up and crap call I made was right, the huge sell off could be erased if they remain above the support line today.
While I believe a break to the downside is coming soon, if you are playing options, you should consider the possible move up tomorrow… should the support line not break today.
As Anna stated, this isn’t a crash. It is just a correction, and we might have been fooled here by this move down. We need the support to break today for the bears to gain control.
Just keep tight stops, in case a bear squeeze happens? If it does, then 1160-1170 will be possible for the bulls. I don’t think it’s going to happen, but I want everyone to be ready in case the tape turn back up hard and traps us bears.
Just read the headlines about AIG and FedGovt plan to convert preferred shares (govt owned) into common shares, which the govt can sell like Citi.
What if there were collusion to help AIG out of govt control by the other big banks? Then all the Big Ones are free again. Then they can truly do what they want again.
Just thoughts…
Did you forget to include a link to the story? Or is this just something that has been on your mind for awhile?
Could this be why we’ve been going up so high? Just enough to drive up AIG’s (preferred) shares high enough to pay back their TARP loan? Just a thought…
Steve Eubanks says… “All upside gaps have been filled”
http://mrtopstep.com/2010/09/30/mr-topstep-intraday-charts-930-negative-outside-day-no-gaps-untouched/
If we get a late day rally,my stops are at a little over today’s high but it looks to me more like a trend reversal with good volume on the way down. I doubt the high will be taken. We just need a lower low to confirm a trend reversal. I think the risk-reward is good.