AI
Wednesday, April 05, 2006 8:14:07 PM
Last post of the day.
The permabears keep shorting and buying puts. Even some bulls are cautious. The contrarian in me is very happy.
Positiontrader, AI's stoploss of 1734 has a very good chance of being hit per the NDX weekly chart. He has stated that that is what would negated his 200 point down forecast (which had very little basis to it to begin with in my opinion).
Here's an NDX weekly chart. Note the upper Bollinger is currently just under 1750. Once the upper bands are touched, the tendency is to print a few more upside candles as the bands continue to expand.
The permabears keep shorting and buying puts. Even some bulls are cautious. The contrarian in me is very happy.
Positiontrader, AI's stoploss of 1734 has a very good chance of being hit per the NDX weekly chart. He has stated that that is what would negated his 200 point down forecast (which had very little basis to it to begin with in my opinion).
Here's an NDX weekly chart. Note the upper Bollinger is currently just under 1750. Once the upper bands are touched, the tendency is to print a few more upside candles as the bands continue to expand.
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