PM update (2):
Another push but the DOW pulls back at its 20 dma (13641.25). The VIX is still not making new lows, so shorting YM at 13690 is not a bad start. Risk is to 13720. The internals are still bullish, but ADVDEC lines are below what they were earlier. Furthermore ER is not making new highs. I just can't get excited by this rally (longer term).
Another push but the DOW pulls back at its 20 dma (13641.25). The VIX is still not making new lows, so shorting YM at 13690 is not a bad start. Risk is to 13720. The internals are still bullish, but ADVDEC lines are below what they were earlier. Furthermore ER is not making new highs. I just can't get excited by this rally (longer term).
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on Wednesday, August 08, 2007 at 8/08/2007 02:06:00 PM.
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