Sorry for the late post.
My manager is with me all morning.
I am watching the VIX closely. The VIX had a very strong support at 18 to 19 area. If it breaks below it, the market could go much higher from here. I believe that the VIX will bounce off that area again.
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We'll probably close slightly up today. There's so much resistance in this area on the SPX.
ReplyDeleteOn the flip side, if we close above 1125, I think we're going higher then 1130.
If RIMM, INTC and BRCM roll over, the market will roll over too.
ReplyDeleteI hope beige book does not screw up my SDS position. PCP hitting lows. I love using this stock as a leading indicator of SnP. for some reason it seems to work most of the time.
ReplyDeleteOptimism in beige book should mean potential for higher rates (which will not happen) and hopefully a short term sell off into close today.
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