Friday, August 27, 2010

Think about covering.

The Friday low looks to be here. Not as low as I had hoped.Friday at 2:35 Pm ET you can cover your shorts at 1070 if hit or right now @ 1062 if you want, but this may only be a gap fill to 1067 and for sure it is an over sold bounce.
You bought a bearish ETF at 1122 or better on 8-9, a second on 8-12 @ 1082 and a third @ 1060 on 8-24 but I didn't report it, because a long term cycle.
Still 1060+1082 =2124/2=1071spx
1122+1082=2204/2=1102-1070 =32 point capture.

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