Nice reversal today, I should have caught it better, but what can ya do? We hit below 8000, well ahead of schedule for the 4500 ultimate target. We bounced HEAVY and with a rush. We SHOULD get a rally here but how far is the real and only question. 9000? 9500? 10,000? I think 10,000 would be great place to reset shorts in a big way. GS hit our $75 target, who knew? It'll head much lower overall, but remember that a rising tide lifts ALL boats and the same applies to the market, so don't get stubborn with any shorts you might have, we'll look to reenter when the market tips its hand.
Shooting the new infomercial next week, will be out of commish for Tuesday/Wednesday and Thursday more than likely, so trade SMART!
RULE
Waxie
1 comment:
Waxie,
Based upon my estimate of today's move in the S&P and the DOW, this market is more sinister than I originally thought. The next wave downward will be absolutely stunning in my opinion and will put to shame the wave we just had last week. The socioeconomic implications will also be widespread. I wouldn't know where to even start.
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