PM update:
The tape got uglier as oil moved back up above 141. Glad we booked our profits. NQ could drive down to 1839.50/1841.50. We are at that stage when you don't really feel like shorting but don't really feel like going long. That is usually the best time to sit it out and wait for something to come your way. XLF getting heavily oversold, I would love to see the October 2002 lows at 18.50 or a little higher and just load up. Bear market rallies are always great fun, just try not too be the early sucker.
SPX dropped 1277 and the January low of 1270 is in sight. And of course, it's Friday...
Here comes SHM 29.40, 61.8% retrace, below that it's the gap close at 28.86.
The tape got uglier as oil moved back up above 141. Glad we booked our profits. NQ could drive down to 1839.50/1841.50. We are at that stage when you don't really feel like shorting but don't really feel like going long. That is usually the best time to sit it out and wait for something to come your way. XLF getting heavily oversold, I would love to see the October 2002 lows at 18.50 or a little higher and just load up. Bear market rallies are always great fun, just try not too be the early sucker.
SPX dropped 1277 and the January low of 1270 is in sight. And of course, it's Friday...
Here comes SHM 29.40, 61.8% retrace, below that it's the gap close at 28.86.
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on Friday, June 27, 2008 at 6/27/2008 01:15:00 PM.
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