Hey, John, yes, I am reading this, no we are not yet in the frame work of the "year end rally". The rally I fully expected and it did not happen was a "pre/post" election rally. This election caught me "flat footed", the one contingency I did not have was "no winner". Short term, we might have some strength tomorrow, and and most early next week, then, unfortunately, I still see a decline into the 11th to 12th next month, then the year end rally. Since everyone is now praying for it, I doubt that the usual seasonal strength will appear, but I got to play it, just like I had to play VLNC at $13.5 and $11-3/8 (two prior supports), and drop the whole hot potato when $11 was breached. Now I am trying to play it from under $10. The whole market has many additional problems to deal with after we finally get a President, but that might very well be delayed until after the first or second week in January (seasonal strength, is it?) Good luck.
Zeev |
