Hi OJ,
I'm still in the bullish camp also, waiting for this cycle low, as you and Susan indicated last week, to run it's course.
My Indicators, momentum based reached new highs on this recent run, and that indicates, a new high or close to it, will be reached again on the the SPX. If the magnitude of the momentum is equal, we will have another run after a pull back.. In other words, we have to have SIGNIFICANT negative divergence in the moementum to negate the overall run.
I have been trading two new semis, QEDI and SLAB quite successfully plus a new old favorite, NANX in a different field, Nanoparticles.. Quite interesting play. Out of all if it yesterday near 18.00, now afraid it is going to run and I will have to chase it down..
Actually, I expected today to be the start of the Up-leg as some of my 15' stuff started to turn up late yesterday.
Good luck and we will see..
coug |
