Friday, August 26, 2011

Buy 1130 Sell 1180

The market carved out what I believe to be the trading range over the next week between 1130 to 1180.  Right now, we are closer to the upper end of the range and you have to be cautious going long, or want to start shorting.  This morning, the market bounced strongly from 1133, the lower end of the range.  You cannot expect outsized moves and get greedy.  The market will go back and forth for the next 2 weeks before eventually going lower to crack 1100. 

6 comments:

Sandman said...

Hey finally on the same page. That's a bad omen.

Anonymous said...

Hehe ... not really ... up from here ... dude watch the triangle on SnP.

Anonymous said...

End of the month/quarter. hedge funds need to reload. We contiunue up to 1220-1235 range.

Anonymous said...

Sell 1250

Anonymous said...

Sell 1350

Anonymous said...

1130 & 1180 is too tight. Consider that open long or short interest is swaying to extremes in a matter of a week.