Tuesday, October 4, 2011

Bears Eat Bears

They're not pack animals.  *try to ignore the lighter lines*
LT- My father used to say, "Act like you own the place."  It came back to speak all the way from July:)

ST, I see consolidation in the line of resistance versus a wick.  I see that as bringing 1135+ next in line.  The last 2 prior bottoms both were jagged as this and therefore have some expectation of a move to 1090 (1086-1092) in the next day or two (night edit: which I would absorb).  Hyperbolic to parabolic, the entire run down from 1190 is at greatest risk in my view.  Caution is warranted 1124.75-1125.75, I've shorted that before; but if it gets by then all is well - HL, HH expected.

I am long 1074.75.
Covered 20% 1111, +36.25
Wed Edit: Covered 20% 1121, +46.25
Wed Edit: Covered 20% 1132, +57.25
Wed Edit: Covered 20% 1139.75, +65 yowza
Thu Edit: Covered 20% 1152.75, +78, I am flat:)

Be Well.