Jay - major high will NOT exceed 11800. I am out of all LONG positions. Still holding my losers: FAZ, VXX & BGZ. I could AVG DOWN when I see a confirmation of DOWN days (whenever it comes)
Jay - Although it's rare to see a big sell off during this time slot, there is NO question we are at extremes. We are overbought to a level not seen that often. We are at a level of bullish talk that often spells big tops. Could they manufacture a rug pull here? They could. I don't think they will, only because the more they sell the sooner they have to pay taxes on it. With the tax breaks getting extended out two years, it would make more sense for anyone that wants to run and hide.. to sell in the new year and delay their taxes until 2012.
STEADY AS SHE GOES
NO impact data today
6 comments:
Look at www.nacocapital.com , he has a very good trading strategy. What do you guys think?
http://www.scribd.com/doc/45802164/jan3rd-v2
Thanks Nathan
Steady as she GOES until next week
Jan 7th has great potential for major high
Jay
Thanks Reza
I cant condone that type of comparison
BUt as I wrote Jan 7th has potential for major high
similar to yr 2000 & 2009
Jay
Jay - major high will NOT exceed 11800. I am out of all LONG positions. Still holding my losers: FAZ, VXX & BGZ. I could AVG DOWN when I see a confirmation of DOWN days (whenever it comes)
Jay - Although it's rare to see a big sell off during this time slot, there is NO question we are at extremes. We are overbought to a level not seen that often. We are at a level of bullish talk that often spells big tops. Could they manufacture a rug pull here? They could. I don't think they will, only because the more they sell the sooner they have to pay taxes on it. With the tax breaks getting extended out two years, it would make more sense for anyone that wants to run and hide.. to sell in the new year and delay their taxes until 2012.
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