Investors are getting carried away again. The Dow hit new highs, on a 200 plus point upswing. The reasons:
*The Dollar fell to a 15 month low after G20 meets. Gold hovers at $1,100.00.
*Increased investor certainty that we are "out of the woods" and it's time to get in the market, that there will be a global economy.
Whew. We're revising our Dow projections to show new highs that could be reached, and following historical patterns, still see an overall 586 point drop from whenever this market does top.
Read our Dow projections carefully. We are showing the ascent now necessary to the next resistance line, and make note of the 586 historical correction from any top.
Although it's hard to believe our 11/6 recommendation of the OEBKT NOV 21 2009 500.00 CALL hit highs of 10.20, for a 100% return. All it took to hold out for that kind of profit, as many traders did, was to read our re-calcualted Dow projections, sent out by Twitter, which showed a new R3 of 10,206, a great place to sell out watching the mood of the day. It's not often we can return 100% in a short time, and many of you experienced 30-60% profits, so are banging your knees, but this was a great trade. We'll likely lose on our OTM put on Wednesday stop loss, and note the 10 count to any call trade. Very overbought conditions.
Because of this we'll list two opposing signals, with special instructions.
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