So... trade channel held... I was surprised. MY predicition was that the real correction would be at the 50DMA... I was looking for a correction of say 75% of the Vix
But the great Teresa Lo, pointed to some interesting Game theory.... That maybe the shorts would be nervous about the 50dma, and that maybe the Longs would "Jump the gun".
So I guess we keep in mind in both models.
The correction that we just had was 200pts or 50% of the Vix. We will also remember that Earnings start April 7 with Alcoa!!!!!
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
Wednesday, March 18, 2009
Where were we...
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