kiy
I really appreciate the return thoughts/ So even though I'm pushing the idea to buy the pull back here. I really getting increasingly reticent about the idea. I looked for instance at how RTH &XRT reacted today. I'm thinking poor overall. But I didn't look at late day action. Yes like many like BIG I look at the action in CAT, RIO, FCX etc but if retail doing well then that says we go higher I think. But intraday I did not like the action I was seeing (but have not checked my charts during last 2 hours of day). At any rate, I tend to side with your thinking here despite my caveat that if you are going short then do it quickly, take profits when you have them etc. So agree on what you are saying and we should see an extended down move soon, but overall technicals suggest that the downed will be limited (so far) say 1350 on a minimal basis and say 125-60 on a maximum basis. If we see a huge deterioration of underlying technicals then 'katy bar the door' and we short at will. So far any of this technical detrioration we have seen in short and mid term has pointed to "buy the pull backs". At some point we will a technical deterioration that suggests we get more serious on shorting but right now I'm not seeing it as yet. Mike
