Live Update

Friday, July 23, 2010

07/23/2010 After Bell Quick Summary

A little little little little bearish toward the next Monday because NYMO is way overbought now. Short at today’s close and cover at Monday’s close since year 2000, although you get only 63% chances but the gain to loss ratio is 8.1 which is astonishingly good.

2

The bottom line, the trend is up so I’ll maintain the price and time target discussed in the last night’s report. A huge huge bull has already kicked in? Well, I sure hope so, no matter it’s based on reality or lie, I have no problem for SPX to go 3,000 so that I could retire earlier instead of writing this blog every day. But for now, let’s just take one step each time. The short-term is up, yes, I’ve been riding this trend up (don’t you see SPY ST Model?). How far can it go? No idea. Are we going to see a 2nd leg down? Yes, I still think so. Could I be wrong? Sure, of course. Are you guys going to have a very nice weekend? Yes, I think so!

blog comments powered by Disqus

Disclaimer

The information contained on this website and from any communication related to the author’s blog and chartbook is for information purposes only. The chart analysis and the market recap do not hold out as providing any financial, legal, investment, or other advice. In addition, no suggestion or advice is offered regarding the nature, profitability, suitability, sustainability of any particular trading practice or investment strategy. The materials on this website do not constitute offer or advice and you should not rely on the information here to make or refrain from making any decision or take or refrain from taking any action. It is up to the visitors to make their own decisions, or to consult with a registered professional financial advisor.

This websites provides third-party websites for your convenience but the author does not endorse, approve, or certify the information on other websites, nor does the author take responsibility for a part or all materials on the third-party websites which are not maintained by the author.