Have a good weekend everyone. Obviously today wasn’t a day to go short as the bulls were just too strong. I still expect a dip on Monday (but not a gap down… maybe a flat open), however we are likely to chop around some until Bernanke speaks on the 1st. So I wouldn’t take a side either way before that.
Keep your eyes open for new FP’s as they will likely let us sheep know where they plan to take it to next. If you see a slightly new high for a FP then that should be the peak after Bernanke speaks. If you see a low print then that would be the target once it rolls over.
Yes, I forgot about that FP on the TVIX TraderScorpio. Thanks for reminding me. We do know that the selling isn’t over as the FP on the Dollar of 86.47 also still hasn’t been hit yet. This does make you wonder about the possibility of a false flag over the weekend now.
I would expect at least one more hard core liquidity driven XXX pump action ramp job some time next week, before its time to blow town.
DJIA closed: 13075.66= 666
seeing a big Market run up before Olympics is not surprising.
more importantly, two more days of Month End paint the tape.
unfortunately, a global terror threat is just the thing to tank it all.
have a good one. I avoided the squeeze the last two days.
and ditched my longs.
http://s15.postimage.org/e8jn52yux/temp3.png
-DG
Have a good weekend everyone. Obviously today wasn’t a day to go short as the bulls were just too strong. I still expect a dip on Monday (but not a gap down… maybe a flat open), however we are likely to chop around some until Bernanke speaks on the 1st. So I wouldn’t take a side either way before that.
Keep your eyes open for new FP’s as they will likely let us sheep know where they plan to take it to next. If you see a slightly new high for a FP then that should be the peak after Bernanke speaks. If you see a low print then that would be the target once it rolls over.
Yes, I forgot about that FP on the TVIX TraderScorpio. Thanks for reminding me. We do know that the selling isn’t over as the FP on the Dollar of 86.47 also still hasn’t been hit yet. This does make you wonder about the possibility of a false flag over the weekend now.
DOW trendline acting like a magnet…
http://screencast.com/t/7EPEPjChgW
S&P will not move above 1388. Recall TVIX FP a while back it showed 11.11
What is interesting is that CNBC Maria Bartimora(sp?) had mentioned the VIX (TVIX) at 11:11 AM. Maria is born on 9/11/1967. Do you get it now!
taking TVIX & FAZ 5 min before close. Rally today is based on a very thin volume. Smart money are selling on this strength.
I don’t have any so I’m just forecasting a range based on the rising trendline…
http://screencast.com/t/3SdZmllCM3Bx
What FP are we looking at for the top?