We are not really that bearish in fact I feel fairly comfortable buying with 70 underneath
if it gets to my buy in point and I would view this as a very strong entry the overwhelming
preponderance of bullish data has swayed all negatives into positives. Many have reasons to take some money off the table and as long as it holds the 70 line I remain bullish.
The bearish stance today on the prices area a hopeful look to get long at a a nice price.
Hats off to anyone who picked 73.xx as the ST Top. That is some seriously strong position trading. The sell off is of course related to the Strong dollar.
We have to keep an eye on the dollar if it remans strong(Typo on earlier post ) -Oil will remain weak.
on secondary account note X looks super strong and we look to add some more below 40.
Also long BAC Since 11.5. buy this one below 12 with impunity. Tarp deal may actually get you one more shot at Bank America which I view as the best value of all the financials. Consumer confidence should be good.
I'm sure you guys know I meant the dollar was strong and when currencies sell of I refer to the GBP,JPY,AUD,NZD etcetera. I guess fatigue is finally setting in this week. The G8 is back in session today and Saturday so the dollar may get manipulated by Timmy G. the other member of the Dynamic Duo(the other is Bernanke)who can affect the market dramatically with his comments. Import price index is up which is a foreboding of inflation.
This trend of selling stock to raise money is a little troubling for the short term for the long term it will really not be that huge a factor. Go ahead and trade this one
My entries have already been sent.
and drop an email chrgr06@yahoo.com to schedule
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