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.

7 comments:

Anonymous said...

Tsachy are we going down more or bouncing here?

Are you covering? I'm still short from 1047.

OL DAWG

Anonymous said...

I'll just say this for now, the trendline looks broken.

Tsachy Mishal said...

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.

Anonymous said...

Yeah I'll let it breathe a little longer. 1115 sounds good.

Tsachy Mishal said...

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.

Anonymous said...

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.

Anonymous said...

SOLD 1/2 EDZ @ 5.11

OL DAWG