Wednesday, August 5, 2009

Quest for Sanity in the Market

In the Blog world, it seems many participants are throwing up their hands looking for any gasp of sanity in the market.

And this I have to say, is a sign of one or two more big push up--enough to get even the most hardened bear to say, enough is enough, I'll suck up these losses, this is just too much. And although most of us were trained that it would be fall when we could "look forward" to armageddon, the market doesnt usually do what it is supposed to do, at least, when it is supposed to do it.

Here is that XLF with the Fib target. Notice XLF up 2% today whilst general markets tank?
Sorry this "teaser charts" is going to make you looks for yourself on where XLF will be

Do you have your "stink puts" ready to buy, price points picked?

I think OFC may have already hit its highs. It spiked up right through the bit 61Fib and then obediently retreated.

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Insightful and Useful Comment!