Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.

J. P. Morgan

"Sell down to your sleeping point"

Friday, July 11, 2008

Premarket


I shoved a knife in some people panicked in the premarket. According to premarket trading we are right at support. Futures say lower... My target on the descending triangle is 119 on the Spy.

We will see how much panic we will get today. The Blue trade channel is where we are.

You can look at it like this
"there is a Sale at Pennies"

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