Jim, I have been surfing those waves, right here from the midwest! The VIX shows mild fear so far, when it spikes we may see a reversal, or maybe from a big add from the treasury or fed or both, but I still think at some point the play will be to go heavy long, but we sure are not at that point yet. The SOX was an obvious short today, working well.
Besides 2248, next steps are 2152, 2088..I haven't figured anything below that, yet. Same numbers work to the upside, but the more we go down, the better I think the upside will be. The coiled spring principal.
I posted a few important observations on the rat thread today, may help explain some of the current turmoil, things such as the current usefullness/uselessness of audited financial statements. Almost banana republic quality, and this is not good for sentiment.
As Will Rogers once said,
"The return OF my
money is more important than the return ON my money" |
