Pomp, in the "narrative" suggesting a low of $37, there was a little condition of breaking that great support in the $60, it did not happen, and I am happy to say, I have been on most of the ride from there to $155 (plus another "steal" of $20 /share in two "day trading activities"). As for forecasting, on the beginning of the recent run, I promised Steve $167 within six weeks, he got it in two days, what more can one ask? Right now, I'll stick with the high of $222 and close of $177.
As of right now, I am still flat and am looking at reentering around $120, if we do not go into a tail spin in the market. I believe that 10,000 on the Dow will bring in a lot of dipsters, but unfortunately, on Friday swoon, the market's sentiments never got excessively negative, I need a touch of a NYSE tic below -1200 to turn bullish.
Zeev |
