SRS is sporting an identical breakdown candle as in December. Odds are high that we see a small move with consolidation. IYR might hit $34 or it might not. Either way, SRS is going back to $58 for sure, maybe even $75 on the next leg down in the market.Most of my charts are showing Bollinger Band short trades. APPL to $120, OIH to $130, RIMM to $75, SKF to $50, XLF to $12.50, IYR to $34!!!!!!!!!!!!!!!!!!!!!!!!
What? These are some of the projections I'm hearing from the bulls in the near term.
I think it is safe to say that these projections certainly are not ruled out, but the castle is getting pretty high and people are getting "comfortable" again.
Key resistances to watch this week:
IYR $29.60
XLF $10
OIH $88
WFR $19.20
What? These are some of the projections I'm hearing from the bulls in the near term.
I think it is safe to say that these projections certainly are not ruled out, but the castle is getting pretty high and people are getting "comfortable" again.
Key resistances to watch this week:
IYR $29.60
XLF $10
OIH $88
WFR $19.20
TemYear, "Sounds" somewhat encouraging. Thanks for the post and your contributions intraday on Zee's sites. You guys are great advisor's for us "newbies" I hope your correct about SRS. My "wild" SRS order at 43.50 was filled Friday. I really did not believe it would get filled at 43.50 and now I'm a little concerned. I hope your correct.
ReplyDeleteHere it goes again.
DeleteI'm just waiting for Dow futures---I hope they say down 90--I have way too many shorts--I need to cover-
ReplyDeleteFutures open up 30-40 on the DOW...maybe Monday consolidates with a Tuesday reversal...long time until morning however.
ReplyDeleteThose holding SRS will need to take a quick loss at the open if IYR breaks above $29.60 in my opinion. $34 test on IYR would be an absolute gift for SRS traders.