Tuesday, February 22, 2011

Solar Flares, Full Moons, and Skeptics, OH MY!

Naysayers were sent with their tails between their legs today.  Last week it was all elliott smelliott wave, full moon? yawn!, Solar flares?  Stick it up Uranus.  Now it's quiet which is nice because I think the world heard me ring the register on my puts today.  I don't think it's done, but I think a retrace is very possible.  If we open up tomorrow flat to down, or just resume the down-trend, I'll probably have a trigger in place, but we're sitting on the middle of the band in so many names, the put-call ratio is pretty high... that's not necessarily a sign of the end of a down move, but I had profits, so I took them.  Just throwing out possible targets... first is around 1260 in the range of the 4 wave.  The next big one is the 1200 area.  At this point, I still believe the dip is a buying opportunity, so I'm leaning toward the 1260 area, that'd be the middle of the weekly bands.  Not much solid stuff to say now, maybe I'll take a stab at counting this down move once I get a better handle on it, gotta see more before I can label with confidence.
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