Originally Posted by mact3333
somewhat agree with ya...we have a contracting triangle now and its ready to bust loose in one way or another...volatility should come with Obama speech...he will promise new jobs blah blah blah...only money printing will cause sustained rallies lasting more than a month.
I trimmed some long positions and hedged with SPY puts for now.
The Elliott Wavers think we have one more push down that needs to undercut 1173 low before a sustainable counter-trend rally happens...we shall see.
i do see the triangle...and yes, so really either way....BO....i managed to get filled on weekly calls for a nickel so lotto ticket trade following the most recent short term trend, which is up...will be watching the futures mkt tongiht