Please note this is a set up and you must follow the play. Most of you know this is one of my favorite ultrashort to play. The troubling news out of the financials have abated for the time being but their will be more. I am going to play this again long if it breaks $110 and as usual I think $90 will be a shut your eye and buy.
I am expecting the DOW to at least test the 9000 level in the next 3 trading days and possibly get a blow off top soon, which should set us up nicely for the cycle lows I am calculating around January. Lets hope I am right because I would love nothing more than to start 09 with a bang.
Watch the US Dollar too as I believe it should also get a blow of top very very soon.
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1 comment:
Hi,
I am little confused. Your previous post is saying you are expecting the market to go to 10,250. In this post, you are saying that there will be a blowoff top soon a little over 9000in the next few days. Please clarify if there is something I misunderstood.
Thanks.
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