AI
Friday, April 11, 2008 1:08:51 PM
smartone
I know the market is selling the news today on GE but IMO not really. In feb/early March this news would of sent the market down 400 points on the Dow, 40-50 points on the spx, etc.
This is selling to go up, way too orderly. Next week when it takes off it may look like some good news but it is destined to tag 1410 and maybe more post expiration.
Next week we will close just above 1360, maybe 1370 if Put buying is heavy enough today and early next week. The week after should be a swift move up.
These levels are good places to add longs, IMO.
By late Monday this chart should be oversold and ready to turn up on the stoch's.
I know the market is selling the news today on GE but IMO not really. In feb/early March this news would of sent the market down 400 points on the Dow, 40-50 points on the spx, etc.
This is selling to go up, way too orderly. Next week when it takes off it may look like some good news but it is destined to tag 1410 and maybe more post expiration.
Next week we will close just above 1360, maybe 1370 if Put buying is heavy enough today and early next week. The week after should be a swift move up.
These levels are good places to add longs, IMO.
By late Monday this chart should be oversold and ready to turn up on the stoch's.
