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Strategies & Market Trends : Humble1 and Swing Trading Friends -- Ignore unavailable to you. Want to Upgrade?

To: Challo Jeregy who wrote (8181)	6/2/2012 5:44:31 PM
From: Fintas	Read Replies (3) \| Respond to of 41112

As I looked at the banks, savings and wall street I noticed that one of them had dropped to the 52 area, one in the 60 area and the other in the 58 area. I forget which was which and I'll post it at some point. However there are a couple of ways to look at that data. FIRST, yes they are rolling but ol 52 is a long ways from the avg of 39. And many that were lofty have been making their way to the 16 and under area and then the 30's etc. So it's clear we are shifting left. BUT, how far left is the question and do we begin to see the rally pull those from the far left towards the right and while doing so continue to see more selling in the beforementioned? If so then that gives added weight to BAC in the 6's, Jpm in the 29's, GS and the 80's which is the point I'm bringing this up. I.e you have an interest in BAC. Watch those 7's for 2014 calls if you consider call leaps as I do. One thing I have learned over the years and after taking a few beatings is to understand they can lift them higher than one thinks. Take em LOWER than one thinks and the extremes to the lows happen more often than to highs. YET, as that bell curve unwinds and it's momentums etc look to extremes then when one considers the EQUITY. IF that EQUITY is also to an extreme re many technicals and SOUND fundamentally then the time to buy that equity is near. Even if a nibble or a planned strategy of taking it in tenths or what makes one comfortable. On an aside and something to consider. Apple is holding well considering I was expecting 485 and then 444. So maybe it will or maybe it will not. Yet here and now it's finding buyers. YET if sellers win then expect those in tech to follow suit and that will put pressure on the spx. That's it from the one eyed view.