Saturday, October 3, 2009

Intermediate(3-4 days) bottom established?

Seems like we just may go higher for the next 3-4 trading days given the open high, low close on $VIX that seems to work for me... I closed all my shorts again and I am net long again... If we open lower on Monday, I will start buying for the short term rally that is due over the next week... We may resume our downtrend once AA opens it mouth and disappoints everyone... this negative report from Alcoa will set the bearish tone for the earnings season and I would look for stocks that led the rally to break down hard, e.g., AAPL, GS etc.


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