So it is 11:40 PM and the futures are much higher. Someone asked me today why do you think we will go higher if I am such long term bear? Well for one, any time we are trading above the 200EMA I have a long bias, while if we are below I have a short bias. So presently we are above the 200EMA so I am not bearish till be break that line in the sand, that's how I analyze stuff in the medium term.
Secondly I still have some higher time projections coming in April and June so I have to respect those projections, so till be are below that 200EMA and past those time projections I have to believe we are in buy the dips mode.
We will see soon enough.
Thursday, March 17, 2011
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