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
Wednesday, March 16, 2011
THUNDERBOLT
Thunderbolt the first 4G phone on Verizon arrives tomorrow but pre orders on Wirefly is reported to be 400% higher than the previous record holder. I am dying for a smartphone I might have to check it out, seem it might be a winner.
DOW
The DOW is now just 94 point higher for 2011. Going to be a very interesting year folks but I can say this for sure there will be many shake outs.
Action
Action as I said be careful the volume is thin. Just got a bit heavier and most of the futures were to the sell side.
Be careful
Be careful the S&P Futures are training very thin, that means most of the big guys are not active, easy to swing one way or the other if a big play comes in with an order.
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