I'm going to watch our British cousins and FTSE for a clue on Monday morning. They have completed a double bottom and a partial rebound. We will continue whatever start they have, be it a rally or further decline. Both exchanges are ready for either.
If we rally, I will not go long because it will be in progress and there will likely be little money to be made on calls. There is resistance at 1100 and 1112 (and even still at 1090, btw). 1112 would be the limit for the bear case to hold, IMO. If we go up I will buy more inventory, a little at 1100 and more at 1112.
I favor Monday being a down day because of the typical behavior of the Ascending Broadening Wedge I have referenced before:
I haven't been here in a while…. looks like things have really picked up, red. Nice! “Where” is the question, isn't it? I wouldn't be surprised to see 1150 on /es. VIX is telling us to expect huge moves… we could get there quickly.
Just signed up for disqus recently so please pardon my guest identity Based on the technicals, I see nothing that would have prompted me to go long yesterday. Also, VIX is crazy high, no higher highs, higher lows on daily. Short play looked right to me Red and I appreciate your generously providing this site and all of the constructive comments from your regulars. Thanks, MQ
The trolls will probably leave now, as there's no more reason to stay around. But we will see… if they don't, you can get your paddle out and whip them good. LOL
Fully and well said….
China may continue stimulus program – Party on Garth!
http://www.chinadaily.com.cn/2010-05/22/content…
I'm going to watch our British cousins and FTSE for a clue on Monday morning. They have completed a double bottom and a partial rebound. We will continue whatever start they have, be it a rally or further decline. Both exchanges are ready for either.
If we rally, I will not go long because it will be in progress and there will likely be little money to be made on calls. There is resistance at 1100 and 1112 (and even still at 1090, btw). 1112 would be the limit for the bear case to hold, IMO. If we go up I will buy more inventory, a little at 1100 and more at 1112.
I favor Monday being a down day because of the typical behavior of the Ascending Broadening Wedge I have referenced before:
http://stockcharts.com/def/servlet/Favorites.CS…
http://thepatternsite.com/abw.html
Kudos to Cobra for the tipoff on this.
http://cobrasmarketview.blogspot.com/
vampires? ssssssshhhhhhhhhhh
I haven't been here in a while…. looks like things have really picked up, red. Nice! “Where” is the question, isn't it? I wouldn't be surprised to see 1150 on /es. VIX is telling us to expect huge moves… we could get there quickly.
Just signed up for disqus recently so please pardon my guest identity
Based on the technicals, I see nothing that would have prompted me to go long yesterday.
Also, VIX is crazy high, no higher highs, higher lows on daily.
Short play looked right to me Red and I appreciate your generously providing this site and all of the constructive comments from your regulars.
Thanks,
MQ
Looking forward to seeing how Monday unfolds. Been following here and there, but figured I would join the fun . . .
Whack away Blood…
The trolls will probably leave now, as there's no more reason to stay around. But we will see… if they don't, you can get your paddle out and whip them good. LOL
Hi Red 🙂
I came over to whack your trolls! come home sweetie… miss you
Thanks jzzz…