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, February 12, 2010

It was the best of times, it was the worst of times.

It became apparent that we were going to get a bit of a larger pattern here. I came up with a 109.50 target on the SPY, or 1095 or so on the SPX Plus or minus 5Pts on the spx or .50 on the spy.

This could just be all Raindancing on my part... Buyer be ware.

I was looking at sentiment, It sort of feels like complacency, I don't know how to rate that. I'm not sure I can throw more than a 7 on the DSI(sentiment indicator)... I may be able to stretch it to an 8... If I count my own Sentiment... LOL

MOM! I don't want to go to work tomorrow.

This at least feels better as a correction(oversold Bounce) Sentiment wise, Though I can still see some technicals that hold bullish.

1 comment:

Tony said...

I'm at a loss. If you're a bull then this morning's weakness is the buying opportunity for the push to 109.

I just can't wrap my brain around the meme of ECB bailing out Greece and the world is all better now.

The renewed belief in negatives (ala Mamis) *feels* very close. Could yesterday have been a head fake?

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