Not that there is something magic...
But say oil comes back to 110... and they buy it a second time..... Then it will bounce.....
It's that Third time it Retests.... Will it retest 120 3 times... or 110...
Does it matter to me?...... not really.. but whichever it tests the most... is where it's going....
but if you want my best guess......
;) Boon in wrong... but buying it at 100 is another significant resistance.
after this run to the upside....we should get a segnificant correction...... Much more significant than the one this week.
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
Thursday, August 14, 2008
remember my rule of 3's
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