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Post by Cosmic on Jan 17, 2011 19:08:45 GMT -5
I gotta go with bear for tomorrow folks.
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Post by exabi on Jan 17, 2011 19:13:52 GMT -5
Bear to open, baby bear finish
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Post by Rich on Jan 17, 2011 19:34:02 GMT -5
I'll back you on this one Cos, even though I haven't got a clue.
bear.
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Post by Clinton SPX on Jan 17, 2011 19:37:56 GMT -5
Baby Bull, too many on one side of the boat.
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Post by demanuel2001 on Jan 17, 2011 19:39:11 GMT -5
Ignore dem futures - bull
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Post by deadmoney95 on Jan 17, 2011 21:22:12 GMT -5
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Post by kbk3ck on Jan 17, 2011 21:22:41 GMT -5
Bull charg'en up a steep hill.
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Post by puurfectten on Jan 17, 2011 21:32:48 GMT -5
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Post by brosin on Jan 17, 2011 21:35:12 GMT -5
da bears
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Post by kbk3ck on Jan 17, 2011 21:44:42 GMT -5
Hey Purr, is a Kraken a bear or a Bull?
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Post by puurfectten on Jan 17, 2011 22:09:42 GMT -5
lol... ..
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Post by kbk3ck on Jan 17, 2011 22:23:32 GMT -5
I think Jobs sick leave is a non event that will create a buying opertunity if people get stupid and give up their $600 AAPL stocks for $348!!!
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Post by cosmic on Jan 17, 2011 22:44:31 GMT -5
I think tomorrow will be interesting. There are some mathy ways to look at how this market is shaping up.
We had last week end slightly to the downside from it's high, but Friday was an up day. The Friday before Opex generally predicts the action for the following week... so short term the odds say bullish for next week, with BTFD the primary driver.
On a longer term basis, the first Fed Floor was placed under the market at 666. The next Fed Floor was placed at 1004. 338 points. So if 1004+338=1342. This number should ring a bell.
However I can easily make the argument that Senior Fibonacci may play a part here and if we were to say look at the 67-78% range for this next wave, we'd be at 1004+226=1230. Clearly we've exceeded that. 78%=1267. We've also exceeded that and it has acted as support recently. Thus it's more easy to accept that we are in 'nowhere land' right now.
A quick look at the chart suggests we've moved about 50 points from the December opex position at around 1236. Opex to opex we generally see swings of 100 points or greater, the least of which I saw was around 89 points but I don't have those stats any more.
So do we really see a 50 point swing next week from this pivot right here?
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