Gambling on da-Markets for Dummies (Special Edition)
We've spent the ENTIRE 1st week of this OE Period above the OE Pivot, that's ALWAYS a good thing, the last time this happened was the Dec08OE.
It's VERY Common to back-test the OE Pivot and we suspect this will happen if not today by tomorrow? Then it's how high we go that'll infer further downside and a violation of said OE Pivot this week?
That said, it is our contention that if the S&P500 fails here and now that the END of the World is VERY NEAR, prices will continue to fall and while we may stop and/or bounce at 350 we'll eventually go to ZERO and Warren Buffet will be in the same line as the rest of us, da-Soup line dat is!! This is why we strongly believe a "Distribution Wave" will occur instead and prices will climb back above 806 and play between 835/928 into 19Jun08?
In da-Meantime there is ample coin to be made on the Short side into 06/07Apr and we 'll be trying to extract some of dem coins from anyone betting long on dis-Dip?
OE Stuff:
Pivot, 29.18, close on 20Mar
High, 31.46, up 7.8%, 25Mar
Low, 29.66, up 1.6%, (rare to have the low be a positive number)
Range, 1.80,
Close, 30.82, up 5.6%
PM, 6.2%, (7.8% based on the Pivot of 29.18 and a 2.28 range)
R8, 35.02, 20%
R7, 34.29, 17.5%
R6, 33.56, 15%
R5, 32.83, 12.5%
R4, 32.1, 10%
R3, 31.37, 7.5%, Serious resistance on a closing basis?
Closed, 30.82, up 5.6%
R2, 30.64, 5%, to be violated today and we should NOT expect prices to even approach this number TODAY!!
R1, 29.91, 2.5%, sill provide a bounce, Big Deal, should become resistance by Noon?
Pivot, 29.18, 0.0%, Serious Support going forward?
S1, 28.45, -2.5%, if the OE Pivot is violated dis-Puppy is next support?
S2, 27.72, -5%
S3, 26.99, -7.5%
S4, 26.26, -10%
S5, 25.53, -12.5%
S6, 24.8, -15%
S7, 24.07, -17.5%
S8, 23.34, -20%
For Everyone's Entertainment, da-4cast-r says...............!?
Date Open High Low Close
27-Mar 31.07 31.18 30.71 30.82
4cast
30-Mar 30.28 30.43 29.13 29.34
This portends a -4.8% down day, WooHoo!
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