Nemer; RE:" DOG'S Bark today..."
...according to my candlesticks and other tea leaves, Nemer - The SPX support level of 944~946, (roughly speaking that 454~456 level of the DOG's OEX post), is in fact: the optimal buy point if today's session is a "technical correction" of the (still intact) UpTrend, having just broken UP through a major DownTrend on the daily charts Friday. In fact, today's downdraft would be expected from this chart, in a classical T/A sense.
Therefore I conclude that the DOG's read was by the book.
Should Tokyo/Seoul derail the markets tomorrow, I would still say that, from a mechanical trading system point of view, le Chien Rouge is trading "by the book" - but in this case, some external event over-took a purely technical reading.
OTOH, DELL is 69 cents and, with participation of the NAZ tomorrow, it is very likely that, if Tokyo/Seoul do not impact us negatively, the OEX 454~456 support will turn out to be one heluva good place to buy those CALLs.
I continue to be impressed by RED DOG's actions, Nemer.
-Steve |
