on october 10th and Oct 27th the DOW cash hourly bottomed at 8076 and 8006
yesterday 's close at 7997 and today's 10am print at 78xx clearly continues the break out of the triangle to the downside
if today is consolidation thursday, then a range should be established by 11:30am
i am thinking 7625 cash as the target which is 1400 points below he obama high at 9025
(wave 1 of wave 3 seems to be 11835 to 10434 )
decided that i had to get shorter as the S&P broke 800 so I sold a DEC 900 call for $6600
also i redeployed cash in the 401(k) into the bearish Russell 2000 since small stocks are bound to have more trouble than big companies
Philly FED report at 10am and the DOW is under 7850 (7888 was the print low and now all indices
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment