What i think is going to be very interesting, is if they DON'T really say crap on Thurs, as most of us expect....(yea we are gonna sell off, that "should" be a given)...but just compare the velocity of the sell off. I mean all it "SHOULD" be equal to or GREATER than the entire run up into it, b/c it will all be hot air. But what if we sell off LESS after, than we did rallying into it?
If they come out and say "ahhhh the hell w/ suspending m2m, that crap aint happening, banks are toast".....hehehe.......well SKF "should" go back to 265 in a snap......but if it only goes back to 245, as subtle as that may sound or seem, i think it can be very telling. As that would mean the SHORT the EVENT is losing momentum.
I'm not "calling it will", heck...i think there is just a good chance if they say "NADA"...we crack to 615 on the spx! Just saying to be cognisant of the impulses both ways, and notice if there is a shift in the weight of the 2 compared, that's all. :o
Selling the news has been the trend here for the entire bear market. Selling the news and selling EVERY govt intervention/pop! That's the meat and bones of this bear, so just watch to make sure that punch is still packing. That's all im thinking and going to be watching closely.
at any rate....
As for those spx tickets:
.40 cents off on the spx to 720-725 call (oh shucks)
I honestly did "think" when we broke that rsi wedge at the open, we would get 720 today.
(rounding up counts right?)
upside.....line in the sand numbers, imo
784 (i would short the *(&^ outta the spx if we got this one)
i think they ALL will provide some "trouble" at least, for the bulls.
(selling out the remainder of my longs tommorow by close no matter what, that's just me)
charts attached to right.
- looks like to me we still got HIGHER prices to go here over the short term. I don't thinks its gonna happen in a straight line. But technically the most of all i would (well, this is looking ahead a lil here) i would LOVE to see us at WEEKLY RSI resistance, imo that would be yet AGAIN another awesome short entry,as it has been since 2007.