Friday, January 26, 2007
Big rally day coming up.
Based on today's intraday action and market internals, monday/tuesday should be rally days. We should then see a correction into the Fed meeting and more upside afterwards. I have the following revised targets(due to lower lows made today) heading into my 2/2 fibo turn date.
Dow 12680
Ndx 1880
Spx 1447
Rut 808
Posted by victor at 4:04 PM 0 comments
Thursday, January 25, 2007
every last one..every last one...every last one...
every last bear...every last bear...every last bear...
I think thats what he said at the end of " The Collector" With Teeth, NIN.
Posted by victor at 4:16 PM 2 comments
Buy signal
The shallow decline so far intraday has generated a buy signal. I just noticed that my 2/1-2/2 fibo turn date falls near the next Fed meeting. If history is any guide then the mkt should hold up in this timeframe and today's buy signal means a possible rally or chopy move to the upside into the above fibo turn dates is likely. Therefore i am now expecting the market to bottom out in the next few hours(possilbe gap down tomorrow) and then go up into feb 2nd.
http://fibo-count.blogspot.com/
An Important point about most of these Blogs.
Most Bloggers are traders and have stops in place in case the Market moves against them. PROPER MONEY MANAGEMENT! We can't put stops in our TSP accounts, but many folks here have successfully learned how two trade TSP accounts. YTD returns of these members prove that. The point is that there is plenty of risk in the Market next week, Technically and fundamentally.
This is not buy the bottom trade! Good luck for those that are going long in this very unpredictable market. I'm keeping my long position small and playing seasonality here. (Which was a loser many times 2006)