the feeling is right, we do have the rebound at the end. Let's see if it can last till the close.
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ukarlewitz@yahoo.com wrote:CPC will likely close to the recent high, 1.45 now
uka: thanks for your trin alert. but it does have room to go quite higher. just one example may '10 went >35 and a few other notable times. I recall Bernie Schaeffer calling it his favorite bottom-finder, then the market dead-cat-bounces and SPY goes lower. good to watch
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
the rebound, by the way, is not bad for bears, because it eliminated a potential bottom signal and a good chances for green Monday.
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Well, I guess that's it for today. The big picture as I've explained sometime ago, today's action confirmed that the up momentum is further weakening therefore the chances are even higher that what we had was (is) merely a rebound, that Aug 9 lows will be revisited. That said, there's always another confirm, which I will explain in the weekend report. But you should know any signs can be confirmed and confirmed until too late so at certain stage you have to make your bet, nothing is 100% guaranteed. Thank you guys, I'll see you the next Monday!
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Cobra wrote:Well, I guess that's it for today. The big picture as I've explained sometime ago, today's action confirmed that the up momentum is further weakening therefore the chances are even higher that what we had was (is) merely a rebound, that Aug 9 lows will be revisited. That said, there's always another confirm, which I will explain in the weekend report. But you should know any signs can be confirmed and confirmed until too late so at certain stage you have to make your bet, nothing is 100% guaranteed. Thank you guys, I'll see you the next Monday!
You made the day for me today! Many thanks and have a safe and happy weekend.
Cobra wrote:Well, I guess that's it for today. The big picture as I've explained sometime ago, today's action confirmed that the up momentum is further weakening therefore the chances are even higher that what we had was (is) merely a rebound, that Aug 9 lows will be revisited. That said, there's always another confirm, which I will explain in the weekend report. But you should know any signs can be confirmed and confirmed until too late so at certain stage you have to make your bet, nothing is 100% guaranteed. Thank you guys, I'll see you the next Monday!
Cobra wrote:the rebound, by the way, is not bad for bears, because it eliminated a potential bottom signal and a good chances for green Monday.
Cobra,
You mean, the rebound, eliminated the potential of a chance for a green Monday? Why? Thx
eliminated one evidence for calling green Monday because VIX rose 14% instead of 18% as of close otherwise almost 76% a green Monday.
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