Options Wonderland

[*~1Best~*]

Big Buys: Markets are at pivotal supports. Reversing at the supports... Short squeeze to upside.

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LT SPX target is SPX 1600 +/-

SPX corrected 38% of Jun-Jul 2006 rally. Markets have corrected with the subprime drama.

Bullish Sentiment: High insider buying, Buffett bullish sentiment, CSCO bullish sentiment, Soros bullish sentiment ... they are buying


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Posted by: __1Best__

Date:7/16/2007 12:51:54 PM
Post #of 2089

RB, market is heading to SPX 1600 since it is showing a breakout; this does not mean that we do not have bearish, underlying fundamentals. We need to see how much market will retrace for vst correction since we are seeing a strong trend. Normally it is fib retracements, i.e. 28% and 34% for bullish market.