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SOX - To be honest I have huge long positions on SOX, I will like to think that 252 close is a very good close, this is a very much a key resistance and a close here is great, lets take this out, the moves all around are good, this is a broad move, a SOX composite RUT based move, one needsto identify the rooots of the move before even trying to pick up the direction, my SPZ move was from 842 to 1080 area and I would like my 1130 to be taken out this is the level which is going to go , I would think as we take out 1755 we will make a decisive move twards 1092 area the first interim resistanceice that 1055 tests have been very frequent in my Bhumbo 1 move, but on the other hand my Bhumbo1 move came without RUT and Composite participating in full, so right now I am looking at 1655 support very carefully and 260 as my next target on SOX, on SPZ I would like to see an attack on 1092 and on down side I will like 1055 to be tested and held, the way earnings are going I would again say and I love to repeat it again that I told you so-- earnings will turn the tables on bears, go back to my posts all my posts talk about the earnings revolution and that is exactly what is happening, ray was telling me today Ike that in last 19 days we have a very solid return , we bought like mad, he wanted my orders to pull the trigger to take in the profits, I told him sell every thing if 1655 is broken that would mean a huge loss in profit but the gambler and trader I am I will ride this market as far it takes me- I have never ever leveraged on long side so much ( I do leverage heavily) but this time on that night in Pakistan when market went crazy to 1320 I bought like mad, I was angry with bears and I became a long 'John Merriwether' without his mathematics , now all those Dells MSFTS PFE NOKA LU and all those longs are dancing like queens- I am also dancing and enjoying .. market may go anywhere I am done for the year-- gg |
