Jill, unfortunately, I really do not know where "rambo" goes next. I have a "gut feeling" and many technical indicators support this that the next target is just under $97, rather than $65, however, these technical indicators can change very rapidly if we close under $77, than the next support is really in the $62.5 to $65 range, I if I am in the stock (which I am right now), a close under $77 will force me to take a loss. I don't fight the tape, I just try to roll with the punches and hope from time to time to be on a real upswing (and have quite often, thank you, with the bu$$). My advice few months back to get off the bus if it breached $97 (I actually had a yellow flag at $103 or so and bail out at $97), turned out to be right. But it was also framed with an "if it closes above, stay, if it closes below, bail out". I am not smart enough to know ahead of time which way it will be.
Last, Jill, how can you call me a "position trading bear"? Since the May lows, I have been discussing a stealth rally which should (hopefully) get us to the mid 4500 and possibly a new marginal new high on the Naz. Yes, I did call two intermediate down cycles (top in mid July and a top just two weeks ago) before we get to "the promised land", don't blame me as a "bear" just because these two happened.
Zeev |
