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Tuesday, 01/10/2012 10:10:13 AM

Tuesday, January 10, 2012 10:10:13 AM

Post# of 8321
Last time, I said that while the OEX P/C was Bearish as was the VIX, the FL/FS and the Options Oscillator were both flashing Buys. I had to conclude that while we were/are probably mapping out a complex top, dips should be bought. This morning, that looks like the winning call. So far, my call for a decline on Monday, higher prices on Tuesday (if not out of a low on Monday) and into Wednesday and then weakness Thursday and Friday is still on track. I am a bit worried by the massive Bullish shift by Nasdaq advisors as well as the Options Oscillator Sell. There are a lot of things that are starting to stack up. Caution is indicated. We know that tops can take a long time to set up, and momentum is still positive but some time soon, we're likely to get some sort of pullback and it could be fast and furious.


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