Friday, February 20, 2009

Turndate


We are going out on a limb here. We believe the markets are very oversold. We are looking for a 10-15% bounce which should start by the 25th. Our targets on the SPX is around 830-850 region. The target date is march 13th.

Lets see if we will come to repent this call.

Addendum:
We are looking at this as a scalp long opportunity. We don't believe the down move is done yet. The downward pressure should resume by Mar 13th. This is our best guess given the market action thus far.
As for XLE, we are waiting for a 'kiss-of-death on the triangle boundary to short some more.

2 comments:

Anonymous said...

Glad to see you posting again. Your 25th prediction may have been within 24 hours of correct.

Hil Feld

Clarke said...

Hey Hil,
It has indeed been a long time. I am just settling down in my new job, and as you know now it is an extremely tense environment with employers trigger happy on the fire button.

Hope you have been making money/
As for me dumped my UNG for a tax selling loss, covered a lot of shorts from Jan 15th onwards and made some profits on silver too.

A decent year to begin with, I should say.
Hope you have been making good trades too.