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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Augustus Gloop who wrote (8723)	1/22/2008 5:39:29 PM
From: Patrick Slevin	Read Replies (1) \| Respond to of 33421

Seemed kind of weak, I agree. Anyway these snapbacks usually retest. If it does & appears to hold above 1210 or so in SPX I'll take a flyer on a positional long. If it does keep motoring higher I'd sell around 1335. I don't know if I'd trust the market moving straight up without a retest of some sort. I'm just talking about Futures though. I'm pretty certain I won't be taking on new positions & only adding to selected ones as the year goes on. I honestly cannot find many stocks I want to own, even at these prices.