Darth,
No one is saying that we are not in a strong up market. If you read my last note I raised my top to 8500, so I am also bullish.
You have been watching my notes; therefore you should also know that I go after every ripple.
I am expecting a return of 20-40% of recent PUT positions and if the DOW drops 100-150 by tomorrow or Tue on just a intraday basis, I will get it. If the DOW hits the 8150-8200 range on the intraday basis, by TUE, or better before, I will be out with the 15-30% gain or more and I will be very happy. Then I go on the call side at the end of the week, probably Friday afternoon and turn into a BULL. ggggggggggggggg
Some people are saying that we may go to 9000 within weeks. Since my TA system's strength is not in price prediction, but in time prediction I do not see any evidence of 9000 yet, but subjectively it is very possible and I hope it does, since I will be on the long side at that time and very bullish. But I will probably be one of the first to turn bearish again.
As I have said in the past on several occassion, I am not a BULL or a BEAR by nature, nor a CONTRARIAN(although my positions normally are contrarian), I am just an emotionless and boring technical analyst, trying to go after every ripple. This is the option thread where short term trading is suppose to be discussed. Now if I was on a thread which focus was on long-term investment and just stocks, no option, I would be in the wrong place. I've done that before, and many wont doubt with my transposing of numbers, direction, letters, etc. Yes,yes,yes -Im a bit bsent-minded. ggggggggggggggggggg
Happy trading. |
