Ask DrBob Message Board - Msg: 25814509

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Ask DrBob

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: chichi2 who wrote (99826)	7/27/2009 5:48:59 AM
From: almita	of 100058

Chi Chi still posting on his board. I believe he went short the SPY expecting a pull-back. However, I also believe he maintains we are starting a 3rd wave higher, which means a small second wave down to SPX 950 before? Check his board for accuracy as I may be wrong. SPX 950 must hold or something else is afoot. What I am wary of is the gap at 910. I am taking profits in the basic materials (UYM) and will look to reposition on the long side upon resumption (Continuation) of the uptrend. This ETF looks like in overbought territory on the dailies. We may have a final day or two of window dressing but T+3 means fund managers need to position long by Tuesday close.. Just my thoughts...

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next