exactly. saying RM got long oil @ 63 is like saying i'm short the s&p from a prediction 2 years ago. yet bozo has done both. and thats why he's known as bozo.
odds have incresed to 10%-15% chance of this prediction being correct. If you follow this thread and used a strategy I layed out here, you immediately sold Feb 1450 calls when the Jan 1450 calls expired last friday, and you are already making out like a bandit !! My average price selling the Feb 1450 calls was $6.1 and I could have done better imo.
SPX has KEY support at 1422.60 As long as the market closes above that level, I am looking for the first two parts of a "5-3-5" sequence to be completed today. New target suggests 1455.15 / 1457.50 A close back above 1435.70 will confirm this next sequence with initial targets of 1444/1447 before encountering any substantial resistance. Stay nimble!
Mine comes in at 1421 but close enough. I hear what you are saying but any penetration of this level could result in a new bear move and the commencing of a lower level wave 3. I am still bearish until I see some confirmation of support holding here.
Off the Jan. 10th low, you can see 5 days to the upside, and then a 3 day pullback. Today is Day #3 of that 3 day pullback.