A diary of the thought process behind my investment decisions
This Is Different
The selloff today looks different in that we are seeing two days in a row of selling. I can't remember the last time that happened. I am not declaring victory but just pointing out that we are finally seeing a change.
There is a lot of support in the 1110-1120 area. I will cover the majority in there. But after a bounce from there I think we will head lower to a 5%-10% correction.
The correction has started. It won't be straight down. Each move lower will be bought. I'm thinking 6-8%. I'll start my buying around 6% lower. We are already down over 2% from the 1150 mark. The correctins have lasted about 10 days. This started on the 19th.
7 comments:
Tsachy are we going down more or bouncing here?
Are you covering? I'm still short from 1047.
OL DAWG
I'll just say this for now, the trendline looks broken.
There is a lot of support in the 1110-1120 area. I will cover the majority in there. But after a bounce from there I think we will head lower to a 5%-10% correction.
Yeah I'll let it breathe a little longer. 1115 sounds good.
1090 would be 5%. My biggest fear would be a large cash Merger Monday. I hope to be able to cover up a little ahead of the weekend.
My take-
The correction has started. It won't be straight down. Each move lower will be bought. I'm thinking 6-8%. I'll start my buying around 6% lower. We are already down over 2% from the 1150 mark. The correctins have lasted about 10 days. This started on the 19th.
good luck.
SOLD 1/2 EDZ @ 5.11
OL DAWG
Post a Comment