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anyone convinced of a turn yet?

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Not applicable
The rallies look impressive, but the dow only rallied after hours, and all the other indexes seem to be trading at resistance. And what about that gold price!! If that doesn't move the miners in SA, nothing ever will!
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12 REPLIES 12
SimonPB
Valued Contributor
rand moving stronger ..
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Not applicable
Tough call. Yesterday I believe was maybe slightly overdone (500 points was a sharp) but came back to 320 odd. So today might see an even keel but could go either way. Gold price yes gonna move something but the rest? Lets see what the futures do and where we open.
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SimonPB
Valued Contributor
futures +1% (242 pts) ..
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Not applicable
my strategy is to wait till this afternoon to see what the dow does before going long - problem now is that we only have a 30min window of opportunity!
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richardw
Super Contributor
There's a very good chance the U.S. could be pumping more cash into housing and other stimuli so I'm generally long-biased with tight-ish stops. CIT just went down and the market hardly blinked - everyone is addicted to the Govt Stim (tm)
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divz
Super Contributor
My opinion i think we are going to be pretty range bound until end of November , December will be sleepy month as normal so no great. The trick now would be to catch the tops and bottoms of the channel.Dow between 9650 and 10000 ftse probably 4950 to 5200 with minor support/resistance in between.
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Wizard
Super Contributor
The VIX index didn't just jump 24% without a good reason on Friday. There are more good reasons to sell the market at the moment than to buy it! I hope u did take a picture of DOW 10k because I don't think will see it any time soon.
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divz
Super Contributor
The vix jump..sort of expected lots of data coming out over the last 2 weeks to end this week. the jump does not necessarily mean we going down just means there is a lot of volatility and if you read the market right nice time to make some money. dont know if we will see 10000 shortly but could get close also dont believe we will drop below 9650 just my opinion though
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Wizard
Super Contributor
The higher the VIX the more PUTs are loaded. If the market is unchanged it will come down in value. For me it's quite a good forward indicator.
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divz
Super Contributor
i had to wait till 11 last night but got the pic think it may head south again tonight though unless the jobs data is way better than expected
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SimonPB
Valued Contributor
an the more calls are loaded .. people read more on volatility and how it is used in option pricing ..
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Fredsed
Super Contributor
Here is daily fibb blogger looking to short and calling it wrong since the bottom... http://tradethecycles.blogspot.com/
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