I covered my shorts this morning (1381.75) and actually (gasp) got long. I'm offered at 1389 and I'll start scaling short in the 90's. I'm still bearish. However I see that it's imperative for the market to auction just a tad higher. Why? So that participants can say, "the elections are over and it doesn't matter, we're still going higher." Once that psychology is set in place we'll break.
TA may work in very short term, but in long term it fails for indexes. Depends on your timeframe I guess as well. When you say doubledigit how much is that? You mean % wise?
Fundemenetal analysis and a little TA. The markets sold off at the close yesterday and the election results don't have much an affect on the fundementals, therefore the selloff at the close yesterday will be negated by a rally today. I suspect yesterdays EOD selloff came form exit polls showing a dem lead.
He means he makes double digit profits selling naked calls in bull markets. Me and thorn comanage a 10 figure fund out of manhattan.