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Contrarian market commentary and economic postings.
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2008
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August
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- GUSTAV UPDATE
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- BMI INDICATOR
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- MONETARY ANARCHY DEC 2006
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August
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About Me
- Marc R
- Baltimore, Maryland, United States
- PROFILE FOR MY 1 SOURCE BLOG: We have over 30 years of experience and the best resources available to bring you unequaled value and customer service. We look forward to helping you with your next project with our "Creative Office Solutions" #2 PROFILE FOR MY MARKET "HOBBY" BLOG I have been writing about stocks and the market since the late 90's. My record of calling the last 2 , now maybe 3 bear markets stands. There is more to investing than just avoiding bear markets, but it sure doesn't hurt. I offer NO recommendation to buy or sell equities or trade any vehicle...I just offer my opinion for what it's worth. Consult with your financial advisor before taking any actions. this financial blog is for amusement only.
3 comments:
The open interest increased by about 13000 yesterday, so we had new short equity entering the market, I am short from the open, the 1257's may offer micro support, but my exit target is down at the 1245-48 area in the Sept SPX. If that fails, like I said the other day, I think we can head even lower and test the lows. It will be interesting to see what happens in the 1245's, I caught Cramer a couple of days ago telling everyone to buy the market, the lows are in. Those that followed that advice are under some water.
The open interest increased by about 13000 yesterday, so we had new short equity entering the market, I am short from the open, the 1257's may offer micro support, but my exit target is down at the 1245-48 area in the Sept SPX. If that fails, like I said the other day, I think we can head even lower and test the lows. It will be interesting to see what happens in the 1245's, I caught Cramer a couple of days ago telling everyone to buy the market, the lows are in. Those that followed that advice are under some water.
A do nothing day of sorts,I dont think a low of consequence to allow for EXTENDED rally can come w/o a washout of some kind
D
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