Discussion in 'Trading' started by S2007S, Mar 14, 2007.
the magical #
It's now being tested. Hold up, gotta love round numbers.
The dow may bottom around 11700 enough to lure in more shorts before resuming uptrend.
if your choosing to stay short rememebr that markets do rebound
11700 is the magic #. if it doesn't hold you have basically a multiyear double top /breakout failure. So, 11700 really needs to hold.
Here we go, hopefully this is only a intraday penetration.
In Jim Carrey, Dumb and Dumber, Man lands on the moon, tone;
like to see sub 11500 very soon...
Game over fror the bulls?
When stupid money starts shorting you know there will be a rebound soon
im looking for the dow to hold the 11700 area, if it doesnt than sub 11500 is very very likely. Would start getting bullish around 11250-11500.
Market needs a 10%+ correction. The question is, is this the start of a bear market or just a minor setback leading to double digit gains by the end of 2007.
Pay close attention to the transports and semis.
IF the semis start breaking down this market has no chance of seeing any kind of rally to new highs anytime soon.
Transports are selling off extremely hard today as well. They usually say the transports are the key indicator of where the dow goes. Transports did break new highs but have since pulled back.
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