Flush down at the close, looks very capitulative (YM monthyl s1 at 13279). Maybe one lower low Monday. New year lows (chart) have reached a level not seen since 2002! If anything, it's time to cover shorts. QQQQ 50 dma is very close, at 47.94.
Just like I put out a swing sell alert a few weeks ago, I am putting out a swing buy alert. Take the dip Monday. ISEE closed a little high given the circumstances, which would be my only caveat, but it was much lower yesterday. If we get an extremely bearish read Monday, it would add fuel to a short squeeze.
This entry was posted
on Friday, July 27, 2007 at 7/27/2007 04:22:00 PM.
You can skip to the end and leave a response.
» Post a Comment