Monday, March 16, 2009

Long one unit at 759.75


Anonymous said...

todays pop up to 7312 in the dow
was the upper range target of the 7260-7312 range . this then would imply the upper support at 7204
to have some meaning .after looking through a few things this morning , cycles are short term bearish with in a longer term bullish cycle of which there are many so my bias is to the upside yet short term over the next week is bearish ( call it corrective )
while the 6800 6900 level is the important support on the dow
todays move up to 7312 was in danger of breaking back out of the lower extreme band on the dow which would be a very meaningful breakout if it is taken out , that level is 7334 , the lower band has only been penatrated 3 times since 1942 and the 3rd time was when the dow broke below 6980 .
im not so sure we are going to see the decline im expecting is my point because if the dow breaks back through 7332 is would an imeadiate move towards 8000-8500
to soon to call the short term im just liking the fact that we are testing this level

Anonymous said...

Hi carl and have a great weekend,where the stop could to be?thanks!