Buy and Sell Signals, and Other Market Perspectives Message Board

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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives

SPY 659.03

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Nov 21 4:00 PM EST

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To: GROUND ZERO™ who wrote (16812)	4/5/2011 5:30:30 PM
From: KingHigh	Read Replies (1) of 219256

DJI closed slightly above the Feb high, which I believe triggers a DOW Theory buy signal since TRAN is already well above the Feb high. I don't follow the theory much, but I believe lots of cash out there does and they will see this as the "all clear" signal. I would think the boyz would want one more day or two of downside and a small pop in VIX in order to start rolling their APR options to MAY, since tomorrow is WWW. Also, with the expected ECB announcement Thursday, they might try to line up their buy stops to trigger in a couple days. But with the DOW Theory buy, Gold popping, Dollar declining, they might not be able to contain this rally - who knows, they could decide to gap it up tomorrow. We'll see what ms. market says about it. Either way, I'm happy with my longs. I have a few long puts as a hedge that I will convert to bull spreads if they give me a chance to sell at better prices this week, otherwise I say let's back this market up and get a nice running jump over your VPs. Shorts will squeal on the next leg up.

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