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Non-Tech : NOTES
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To: Didi who started this subject2/1/2002 6:40:22 AM
From: sun-tzu  Read Replies (2) of 2505
 
The CBOE total P/C ratio declined from 1.05 to .65 in one trading day. In addition, the VXN pierced its' current trading range to close at a 52 week low. With these rather dramatic events, the COMPX could only squeak out a 20 point gain.

I read these events as an indication of a rather imminent and abrupt downside move. I'm targeting 1750-1780 within the next one to two weeks. This type of move would coincide with a traditional bearish seasonal period for equities...february. should we reach that point, i will consider that as the next buying opportunity for a swing trade.

i am eyeing a gap up opening in order to complete my short positions which have been accumulated over the last 3 trading days.

good luck y'all
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