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, January 15, 2010

1120

The overall target, again is 1120. The problem is that with the vix at 18 the market can only move about 18 points on the spx without being Tragically oversold.


The second problem is that we have the manic Monday or Mutual Fund monday MEME (or Tuesday in this case)

6 comments:

Tony said...

Market is closed Monday. MLK Day. But, ya, the Vix thesis holds.

Tony said...

Market is closed Monday. MLK Day. But, ya, the Vix thesis holds.

Eric said...

I corrected it, but mutual funds would still buy first day of the week.

Tony said...

Bulls will say we just completed an A-B-C correction.

Eric said...

wave b is developing. sometime between now and the end of the tuesday session.

job said...
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