I am still thinking we go higher from where we are after the pullback. I am definitely looking at the next target area to be 975 and 10000 level on the DOW.
Note I am not bullish overall but just analyzing this as a short term correction in a bear market. What negates this analysis is a close below 860 area, so we must defend that area.
Also I am still expecting a low in January to be set in place medium term
Monday, December 8, 2008
Nice Winners today
Got two very nice and fast winners today. SPY and BIDU buy at the open from the weekend netted over $7 profit in BIDU and SPY calls were up over 15%. Got another play from tomorrow but I will wait for the market open.
ONLY WINNERS!!!
ONLY WINNERS!!!
Tip for tomorrow
Tomorrow or wednesday 'SHOULD' be a turn around day. Be careful if you are long and take your profits here. We aint going back to 12000 folks so better take what you can get. I still think we will go higher but I suspect a pullback this week
DOW -9000
Pays to read this blog- Spoke about hitting DOW 9000 early in the week and we just BINGO it about an hour ago. Tomorrow I am already predicting a down day as we are overbought here already.
Lets see where we finish up the day
Lets see where we finish up the day
TRADE CALL:BIDU
Already +$8 in less than an hour- rocking- no way you should lose on it. Take profits as it goes
905 today??
We just hit 901 on the Futures seem like we want that 905 indeed. An overshoot of 905 should give us 911 then next target is 922. Can we get there today? very possible.
PLAYS
Seem like we will move higher into the open. Futures are up huge and I dont like going long on a huge gap up, so hold off on the BIDU and SPY plays at the open.
Will update
Will update
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