Spiders - March S&P E-mini Futures: I am long from 1486 and still using a 1461 stop. I think the next significant move from here will be upward to the next short term target which I have lowered to 1532. I think we shall see the futures trade above the 1600 level during the first quarter of 2008.
QQQQ: The Q’s are headed for 54.20 and eventually to the 60 level.
TLT - March Bonds: Resistance above the market is at 116-28. I think that a drop of 7-10 points is underway. TLT is headed for 87.
March 10 Year Notes: Resistance above the market is at 113-16. I think the notes have started a drop of about 5 points.
Euro-US Dollar: I think the euro is establishing a long-lasting top. Resistance above the market is at 148.20.
Dollar-Yen: I think the yen is headed upward in a multi-month move. Initial upside target is 117.00. I now think the yen will drop to 110.40 before finding support.
XLE - OIH - USO – February Crude: The market is headed for 79.50. Crude has traded over 96.50 several times during the past few days but I don’t think we shall see a close above the 97.70 level. USO should drop to 56, OIH to 140 and XLE to 60.
GLD - February Gold: I still think gold futures still have a shot at the 873 level.
SLV - March Silver: I think is now is likely that the 1644 high in March silver will hold and that an extended decline has begun. The current rally should halt at a lower top near the 1570 level.
Google: GOOG is headed for 760.Support is at 675.
5 comments:
You are by far the best trader to fade on the web.
Carl, it seems I buy when you get stopped out.
I love your site. It's much funnier than Fark.com.
If the DOW goes under the December low...this will not be good for January.
To the three anonymous comedians who posted comments at 10:27. 10:46, and 11:00 am (see above comments):
If you expect me or anyone else to take your after-the-fact criticisms seriously you will have to post warnings of impending stop- outs before they happen, not afterwards.
You guys are experts at trading the past by looking in the rear view mirror. Sadly, as you well know from your personal experience, it is impossible to make any money that way.
Post a Comment