LG,
>>>>> : I believe the Markets are manipulated to a large degree. Ever wonder why the charts of Indices look similar to others or why they often seem to pivot at the same point? <<<<<
No such thing as manipulation, just that the CEOs of various investment firms meet at golf outings and talk about the weather. gggggggggggggggggggggggggggg
A few days ago, many thought that we would bounce up hard from this pullback, but now there are increasing numbers that the market will go down more immediately. Im starting to lean more towards my STAIRSTEP, parameters yet unknown - maybe 8900-9100 or 8950-8150 or something like a 200 point mini range, wherever it ends up.
Since the DOW broke the 9000 support and is lower than yesterdays low, the DOW could go lower. I have the next strong support line around 8750, but do not think we will get that low immediately.
I just got another DOW CLASS 2 BUY signal(reading of 11), approaching a CLASS 1, while most of the other indexes are in the lower mid-range approaching OVERSOLD region (short-term). Please keep in mind that once my signal hits and remains ringing thru the close, the buy-in time is at the lows of the following day, not that the market could not reverse immediately. With the weakening market, I prefer to see CLASS 1 signals which is close for the DOW.
Larry, my strategy, since Im playing options, is to initiate a stock PUT on the next up-spike, hoping it will get near/above 9100. I will not play the long side unless it is a pure day trade.
Seeya
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