Technology Stocks & Market Talk With Don Wolanchuk Message Board

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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk

SOXL 39.22

-10.3%

Nov 13 4:00 PM EST

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To: GROUND ZERO™ who wrote (83265)	6/27/2013 7:21:31 AM
From: Turtles_win	Read Replies (1) of 206840

GZ: You still short or long puts or both or Rydex 2x short funds or whatever? Correction started and then the last 2 days a counter-trend. Russell 2000 level of 1000 stopped the rally cold recently. It's 960 something (before the opening) now. Lots of stuff says we could be resumming the uptrend or done with the upward bounce and ready to resume the correction soon, probably today being key. The sentiment surveys say if the correction continues, it could reach a nice buying point, an intermediate term bottom. I don't think R2K level of 1000 can be taken out unless it is from a launch off a solid intermediate term bottom, but we could bounce up to 1000 again, then back down, etc. So my bet is that we resume the downtrend and that will happen today. What is your model telling you?

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