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Friday, January 09, 2009 7:12:17 PM
***SRS 58.36 - Hope everyone enjoys their weekend, I just wanted to say, the current 'technical set-up' could rally SRS right back to the 38.2% fibonacci line, which in this case is 90.40 and just about coincides with both the 50 weekly average and 200 day moving average at 91.
As you can see by looking at both the daily and weekly charts below, SRS can and will move quick in downturns. Anyone into technical analysis knows that stocks tend to drop 2, even 3 times faster then when they rise. With that said, the compounding gains can easily allow SRS to double in a very short period of time!
This is exactly what happened in October and November, and the same technical set-up just closed out the week on SRS...
Options expirations can be especially volatile. Going into October's expiration week, SRS opened at 105.67, got as low as 92.04 and as high as 149.99 before closing at 118.37. November's expiration saw SRS at the highest price ever, 295.72 before closing at 216.67 on that very same day! It had opened that week at 169.15, we are talking swings of over 50% at a time here folks. This could easily go to 90 next week, and I'm not kidding!
It's doubled in a week's time before, and the VIX just bottomed out and has started another rally higher. For market makers, increased volatility means the markets are heading lower yet again as the previous two sessions have shown... so buckle up and get ready, the commercial real estate crash is real and it's happening right in front of our eyes:
As you can see by looking at both the daily and weekly charts below, SRS can and will move quick in downturns. Anyone into technical analysis knows that stocks tend to drop 2, even 3 times faster then when they rise. With that said, the compounding gains can easily allow SRS to double in a very short period of time!
This is exactly what happened in October and November, and the same technical set-up just closed out the week on SRS...
Options expirations can be especially volatile. Going into October's expiration week, SRS opened at 105.67, got as low as 92.04 and as high as 149.99 before closing at 118.37. November's expiration saw SRS at the highest price ever, 295.72 before closing at 216.67 on that very same day! It had opened that week at 169.15, we are talking swings of over 50% at a time here folks. This could easily go to 90 next week, and I'm not kidding!
It's doubled in a week's time before, and the VIX just bottomed out and has started another rally higher. For market makers, increased volatility means the markets are heading lower yet again as the previous two sessions have shown... so buckle up and get ready, the commercial real estate crash is real and it's happening right in front of our eyes:
HI-HO SILVER !!!
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