Wednesday, July 07, 2010

Update

I was anticipating weakness early in today's pit session but instead the market has rallied from the open. This is strong action and makes me believe that the low of the regular trading session has been established at 1024.75. I still think today's range will be 20-25 points so I am now anticipating a high in the 1045-50 zone.

5 comments:

dcatlowpj said...

Are you in long, Carl?

Ali said...

Carl what do you think about a Nokia-Apple spread? Long 29 shares of Nokia and Short 1 share of Appple.

volcanik said...

good call Carl

roguewave said...

(1023.20-665.70)/16 + 1023.20 =1045.54

tempo said...

thanks again for being one of the few rational blogs. I just got sick of the permabears crowing about their large gains going short. Potential profit on a short sale is 100%. Potential profit going long much higher as evidenced by today's rally.