If the stock ( Dow 30 type) was at RSI 67, I went LONG, this market is still SEPT rally. or post OPX correction..it’s 50/50 My portfolio is 55% long, 45% short
In order for this to be a real breakout, the bulls need to close above todays’ high again tomorrow. I don’t think they will do it. The same goes for apple. It needs to close above today’s high too, by the close tomorrow.
If not, then this was just a bull trap and a stop clearing sweep (which is exactly what I think it was). I expect tomorrow to be down, as the FP of 114.18 spy has been met now. So, the market should turn down from here.
(But keep in mind… if Obama secretly pumped more money into system, then the bears are done).
AMAZON crosses resistance
Wow… I know there’s not any bears left after today’s move up!
Gold hits 1283, went long some gold stocks. FCX short is bleeding, need tourniquet.
Just no way to tell at this point Z? You’re right, it’s either one last bear squeeze, or a new rally has began.
Today was either a bear squeeze and Tuesday is down, anyway I added 10% longs today.
If the stock ( Dow 30 type) was at RSI 67, I went LONG, this market is still SEPT rally. or post OPX correction..it’s 50/50
My portfolio is 55% long, 45% short
In order for this to be a real breakout, the bulls need to close above todays’ high again tomorrow. I don’t think they will do it. The same goes for apple. It needs to close above today’s high too, by the close tomorrow.
If not, then this was just a bull trap and a stop clearing sweep (which is exactly what I think it was). I expect tomorrow to be down, as the FP of 114.18 spy has been met now. So, the market should turn down from here.
(But keep in mind… if Obama secretly pumped more money into system, then the bears are done).
APPLE hits another high: CLICK HERE
Here’s the screen shot…
http://reddragonleo.com/wp-content/uploads/2010/09/spy-fp-112-52-on-09-20-2010.jpg
FP alert… 112.52!