George, be interested in Sliders SM take, too.
Seems there's enough momentum off oversold levels with the confessional period out of the way that absent extraneous rogue type events (read terrorist attacks aka Bali) there is room for another run after a pause. However, given that's so obvious, a more slowly rising continuation of Friday's move that everybody is worried will abort is more the likely script. Be interesting and revealing.
GS ran out of steam right at a logical first stopping point - $65, have to believe it'll try one more time for the $66 level.
siliconinvestor.com
JPM seems to have done the same thing at first point of overhead - $18
siliconinvestor.com
SPY (S&P 500) - unless this market is really really weak, which the likes of Russell thinks it is, the index ought to have at least one foray to 86. Softer opening (or one small range down day) ought to set up for such a run.
siliconinvestor.com
QQQ is already biting into overhead. Looks like traders would buy a little pull back to about $21.85, especially if it took two hours to a day to develop, anticipating a second leg up to 23-24 with stops under 21. Again, with many sensing the same opportunity, quotes as likely will just walk on up the latter albeit at a slower pace than Friday's rocket, until the Shorts are back in full form Tuesday. Such would be the form of that uncomfortable "you can catch it when it peaks" phenomena.
siliconinvestor.com
Too early to say its over, but is it too late to say it's just begun? We'll know when we bet.
jims101 |
