INDEX UPDATE
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Firstly, Patrick - I'm originally from Brooklyn, and there ain't no snobs there, especially when they say "A BUCK-TREE-EIGHTY ($1.83)" GGGGGGGGGGGGGGGGG.
All the technicals from yesterdays data indicated that bias is to the downside. gggggggggg Guess what, the futures are up nicely right now around 5. What a market.
Yesterday near the close, I had indicated that a spotted a sign that we should be down today and so far there is no indication of such.
This market is unbelievable. I will still stick to my original position that today, latest tomorrow will be flat to down and the buy-in days on the long side to be on Thur and Friday.
I am starting to notice too many oddities in the technicals, per my guitar, which I can not explain. Normally, these oddities indicate strong volitility, in either direction. In light of that I just may enter into a small CALL position or a straddle/ITMIS today.
I have been working on a new indicator and it is saying that when we do turn to the downside, it could be a doozie of a pullback. The timing is that we should see a interim top around 2 week of MAR. It could continue up from there or start a big pullback. Right now I am leaning towards the bigger pullback at that time.
Seeya |
