INDEX UPDATE
-------------------------
Well, my TECHNICAL DELAYED DIP so far worked in principal, but boy did it give me a heart attack.
Although we crashed thru the supports for every index except the SOX, we actually closed above last weeks bottoms in many cases. If we continue to climb, which I believe it will, then the TECHNICAL DELAYED DIP worked although rather excessively. ggggggggggggggggggg. I still have not changed my position now that this was a technical dip and that we will continue upwards for the short-term, although I had given up on it when the DOW was falling under 200.
I had indicated previously that reversal to start Monday and could even start today. WOW, what a way to start a reversal - Hope I dont have to go thru that again any time soon.
Technically, there are very strong signals the reversal which started today will continue next week.
Unfortunately, I am still in the XOI's which so far is only showing average strength.
I did get the OSX JAN 100's for 9.5. The OSX, although down, did fairly well relatively today. I did not sell them.
Besides the SOX, the IIX showed nice strength also.
For the immediate short-term, the technicals strongly indicate that we will not retrace to today's bottom.
Well, I'm still trying to pull the wrench from my gut. ggggggggggggggggggggggggggggggggggggggggg
Seeya |
