I believe you are correct on the first scenario. 2 weeks at the
most as this market seems to move much faster then the past. I
believe an avalanche of short covering will keep this market from
getting sold immediately. Everyone and their brother is shorting or
hedging at this point and there will be a gradual capitulation that
keeps the market up. My opinion for what its worth.
I hedged my shorts Friday that were in turn hedging my
longs...now thats' a bit ridiculous ..
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Santa Claus rally has begun....
Posted by tomW1 on 27th of Nov 2011 at 09:31 pm
"could" be but I think
Posted by marketguy on 27th of Nov 2011 at 10:00 pm
"could" be but I think this won't last any longer than maybe 10 days at the most (and I doubt it'll get much higher than maybe 1220-1230).....
the other possibility is this gets sold "immediately" tomorrow in which case a move to 1100 could be in the cards by week's end.....
I believe you are correct
Posted by tomW1 on 28th of Nov 2011 at 07:38 am
I believe you are correct on the first scenario. 2 weeks at the most as this market seems to move much faster then the past. I believe an avalanche of short covering will keep this market from getting sold immediately. Everyone and their brother is shorting or hedging at this point and there will be a gradual capitulation that keeps the market up. My opinion for what its worth.
I hedged my shorts Friday that were in turn hedging my longs...now thats' a bit ridiculous ..