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Re: xlt leader post# 39680

Saturday, 08/03/2013 4:04:03 PM

Saturday, August 03, 2013 4:04:03 PM

Post# of 68424
Sorry if I didn't make sense somewhere. We are at 18 mil + shorts and yes 6-8 mil of those are below 4.50 in my calculation. I truly believe we have seen approximatley 2 mil shorts covered in the past 2 weeks with the high volume and subsequent move up in price. That would leave 4-6 mil in the 3.50-4.50 range. It will still take another 10-20 million share day to the positive to clear out those in that range.

This still all depends on the institutional control and they are in control. They still have a buffer and we will know when they decide to start covering.

If we don't see a large spike Monday morning followed by a huge retrace I will be surprised. Most likely the days chart will look like a long upside down hammer.

Of course these are my opinions and can be shot down with one giant swoop from HJJ. But I don't expect a RR ruling Monday.

My Best to all

Everything is IN MY OPINION!!!