Or the market could pull back just enough to get the bears
excited again (if they still have money in their accounts, that
is), after which it will power up again in a day or two. Who
knows...
remember I talked about that last night, to be on the lookout
for a headfake as well, too early to say yet, but just be
aware.
GDX has also pulled in quite a bit, you have to be careful of
this as well with gold stocks, that's why I mentioned it below for
NG, they've had quite a run already, gold is in a parabolic move
right now, but when that ends, gold could be down 50 one day, so
you have to just trade them now, not marry them
My EW subscription said to expect a top in wave 4B early this
morning followed by a decline for wave 4C corresponding with a USD
rally. Potential target for the Dow for wave 4C is 9900-10300 area.
Then we get wave 5 up!
Something is seriously up with Goldman Sachs. IMO, there
will be some news event that corresponds to the sickly action of
their stock the last few weeks. Any guesses? I also
guess that it will really affect the markets as a whole.
Market head fake?
Posted by piclez on 2nd of Dec 2009 at 11:07 am
Was this last pop in SPX a head fake?
Or the market could pull
Posted by user32 on 2nd of Dec 2009 at 11:29 am
Or the market could pull back just enough to get the bears excited again (if they still have money in their accounts, that is), after which it will power up again in a day or two. Who knows...
remember I talked about that
Posted by matt on 2nd of Dec 2009 at 11:12 am
remember I talked about that last night, to be on the lookout for a headfake as well, too early to say yet, but just be aware.
GDX has also pulled in quite a bit, you have to be careful of this as well with gold stocks, that's why I mentioned it below for NG, they've had quite a run already, gold is in a parabolic move right now, but when that ends, gold could be down 50 one day, so you have to just trade them now, not marry them
My EW subscription said to
Posted by phillw on 2nd of Dec 2009 at 11:32 am
My EW subscription said to expect a top in wave 4B early this morning followed by a decline for wave 4C corresponding with a USD rally. Potential target for the Dow for wave 4C is 9900-10300 area. Then we get wave 5 up!
Head fake...
Posted by saturn6 on 2nd of Dec 2009 at 11:09 am
is what I am looking for...
1113 should have held on a backtest
Posted by kalinm on 2nd of Dec 2009 at 11:12 am
Something is seriously up with Goldman Sachs. IMO, there will be some news event that corresponds to the sickly action of their stock the last few weeks. Any guesses? I also guess that it will really affect the markets as a whole.
GS
Posted by rbreese on 2nd of Dec 2009 at 11:23 am
Lot's of bonuses in GS stock so of course they will be selling.