Wednesday, June 10, 2009

Long one unit at 948.00

1 comment:

John M said...

It looks like the move down is beginning in earnest. While we topped yesterday's high, we stalled before taking out the rally high.

This should be a relatively quick and fairly harsh move, over by the end of next week or slightly beyond. First stop, 910 or so as Carl has pointed out. But ultimately we could go much lower. The 50% retracement of the rally from the 660s would bring us down around 800, which would not be unusual.

Past this, I think we can look forward to a bullish rest-of-summer and likely into the autumn.

Luck to all.