Feb calls for the wave 2/bounce up/retrace play. Mar and Jun puts for the big drop.Anyway we got a descending wedge right now, so we can expect a bounce up at some point but the wedge is in its early stages. Right now it looks like a bounce in the 82 area.
Now if we bounce in the 82 area...looking for a target of about 86.75 at a minimum, and likely 88.22. I think there will be some very interesting times ahead...Retail is hurting/collapsing...which will bring down CRE...Credit cards are going to start defaulting...both of which will add pressure to the financial industry.Obama will take the reins soon.
1 comments:
well we broke just below 82 nice call..I got smoked the other day on my 86 calls glad I reversed and held 81's into taday for a near double...some reversal e.o.d.
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