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To: Henry J Costanzo who wrote (173817)11/24/2008 1:34:51 PM
From: The Freep  Respond to of 209892
 
Agreed on the pullback thang -- if this is all she's got to the downside, it's time for uber longs!

I also agree the options stuff isn't a timing device. Still, I really can no longer find anyone talking about downside. We're hours removed from a new low... and it's done. I'm not talking about savvy traders who are reversing quickly (often multiple times a day!), by the way. And yes... many people will ultimately catch the bottom.

Anyway, price rules and it's going up. Closing here or higher is bullish, regardless of any options activity. But put me in the "dubious but respectful" camp here...and pretty sure we get some sort of wrinkle in the next day or two that confuses bulls and bears alike!