Xia Qui,
Last night I just got a hold of some charts on the OSX showing Fibinocci numbers in conjuctions with a linear trading channel.
As I indicated earlier, I normally do not set price target, but since I got a hold of these charts, let me give it a shot.
The top of this specific short-term cycle is at 105 for the OSX. For the Downside, the supports are at 101(medium strength support), then 99(weak support), and then 95(strong support). Since the first 2 support lines are very close together and that the OSX can fluctuate substantially, I will combine the 2 and say that the next support area on the downside is in the 99-101 range, and technically it has increased in strength by combining the 2.
Now, I am not saying that the OSX will get to 105, but if it does, that is the time to get out if one is playing FEB calls. If one is playing the stock, the downside is smaller and one should hold for the longer-term. All bets are off if the DOW breaks 7550 on the downside. If the DOW gets to 7550, my guess is that the OSX will be in the 95-100 range.
Please keep in mind that the DOW most likely will drop soon. Its ceiling for this specific short-term upswing is 7850-7900, but again that is not to say it will get up that high. It could turn around immediately. I feel we have at least one more up day in the DOW, and it could only be an intraday test at 7800-7850, then down it comes.
It is quite possible that the OSX can hit 105 tomorrow and it could be on a intraday basis only. 105 is the ceiling for this specific short-term(1-5 days) cycle.
Good luck all. |
