How high goes the rally on Obama infrastructure spending?

[stockstradr]

S&P500 already at 900. How high will this new Fool’s Rally go.

I started nibbling this morning with a 15% of portfolio short position on the indexes.

I’m keeping some cash in my back pocket in case this rally carries up to 1,000, or higher

[peterb]

1070

[peterb]

1070

[peterb]

1070

[peterb]

1070

[peterb]

1070

[stockstradr]

1070?

Naw, I think it will go to precisly 1068.5 and then stall.

🙂

I’m joking. I hope you’re right. You could be right. The only instinct I’m feeling is that this current fool’s rally will go “substantially” above 900. We are already at 916.

So far the rally has been good to me. My oil stocks (BP, COP, MRO, PBR, UCO) are up 10% to 20% in less than seven days. (makes me wonder if I should dump ’em)

My Wells Fargo is up 27% since purchase on 11/20/08. My 2X gold ETF is up 10% in a few days.

I bought SDS at S&P500=900, so that one I’m already losing money on…as the S&P500 has moved up to 916.

However, I’m still about 60% cash. I’m keeping lots off the table for now, waiting to see if opportunities come that I haven’t anticipated.

[stockstradr]

1070?

Naw, I think it will go to precisly 1068.5 and then stall.

🙂

I’m joking. I hope you’re right. You could be right. The only instinct I’m feeling is that this current fool’s rally will go “substantially” above 900. We are already at 916.

So far the rally has been good to me. My oil stocks (BP, COP, MRO, PBR, UCO) are up 10% to 20% in less than seven days. (makes me wonder if I should dump ’em)

My Wells Fargo is up 27% since purchase on 11/20/08. My 2X gold ETF is up 10% in a few days.

I bought SDS at S&P500=900, so that one I’m already losing money on…as the S&P500 has moved up to 916.

However, I’m still about 60% cash. I’m keeping lots off the table for now, waiting to see if opportunities come that I haven’t anticipated.

[stockstradr]

1070?

Naw, I think it will go to precisly 1068.5 and then stall.

🙂

I’m joking. I hope you’re right. You could be right. The only instinct I’m feeling is that this current fool’s rally will go “substantially” above 900. We are already at 916.

So far the rally has been good to me. My oil stocks (BP, COP, MRO, PBR, UCO) are up 10% to 20% in less than seven days. (makes me wonder if I should dump ’em)

My Wells Fargo is up 27% since purchase on 11/20/08. My 2X gold ETF is up 10% in a few days.

I bought SDS at S&P500=900, so that one I’m already losing money on…as the S&P500 has moved up to 916.

However, I’m still about 60% cash. I’m keeping lots off the table for now, waiting to see if opportunities come that I haven’t anticipated.

[stockstradr]

1070?

Naw, I think it will go to precisly 1068.5 and then stall.

🙂

I’m joking. I hope you’re right. You could be right. The only instinct I’m feeling is that this current fool’s rally will go “substantially” above 900. We are already at 916.

So far the rally has been good to me. My oil stocks (BP, COP, MRO, PBR, UCO) are up 10% to 20% in less than seven days. (makes me wonder if I should dump ’em)

My Wells Fargo is up 27% since purchase on 11/20/08. My 2X gold ETF is up 10% in a few days.

I bought SDS at S&P500=900, so that one I’m already losing money on…as the S&P500 has moved up to 916.

However, I’m still about 60% cash. I’m keeping lots off the table for now, waiting to see if opportunities come that I haven’t anticipated.

[stockstradr]

1070?

Naw, I think it will go to precisly 1068.5 and then stall.

🙂

I’m joking. I hope you’re right. You could be right. The only instinct I’m feeling is that this current fool’s rally will go “substantially” above 900. We are already at 916.

So far the rally has been good to me. My oil stocks (BP, COP, MRO, PBR, UCO) are up 10% to 20% in less than seven days. (makes me wonder if I should dump ’em)

My Wells Fargo is up 27% since purchase on 11/20/08. My 2X gold ETF is up 10% in a few days.

I bought SDS at S&P500=900, so that one I’m already losing money on…as the S&P500 has moved up to 916.

However, I’m still about 60% cash. I’m keeping lots off the table for now, waiting to see if opportunities come that I haven’t anticipated.

[Chris Scoreboard Johnston]

Based on my review of the COT report as well as someone else’s who is more of an expert with it than I am, it has become clear that the PPT is behind this rally. Nobobdy else could carry the kind of losses that the large speculators seem to have by buying this whole downmove except the PPT. As a result it is possible it could be a very sharp rally. Guessing price levels is going to be tough, Fib analysis I think is very erratic in general, but it calls for 1025 which is .50 to the Aug High or 1093 which is .618 to that same high. This is SP 500 futes. I won’t make a trade based on those but will watch price action if we reach there to see if a reversal is setting up. You might also want to watch the 200 day MA which I think is worthless but alot of institutions makes plays at it.

[Chris Scoreboard Johnston]

Based on my review of the COT report as well as someone else’s who is more of an expert with it than I am, it has become clear that the PPT is behind this rally. Nobobdy else could carry the kind of losses that the large speculators seem to have by buying this whole downmove except the PPT. As a result it is possible it could be a very sharp rally. Guessing price levels is going to be tough, Fib analysis I think is very erratic in general, but it calls for 1025 which is .50 to the Aug High or 1093 which is .618 to that same high. This is SP 500 futes. I won’t make a trade based on those but will watch price action if we reach there to see if a reversal is setting up. You might also want to watch the 200 day MA which I think is worthless but alot of institutions makes plays at it.

[Chris Scoreboard Johnston]

Based on my review of the COT report as well as someone else’s who is more of an expert with it than I am, it has become clear that the PPT is behind this rally. Nobobdy else could carry the kind of losses that the large speculators seem to have by buying this whole downmove except the PPT. As a result it is possible it could be a very sharp rally. Guessing price levels is going to be tough, Fib analysis I think is very erratic in general, but it calls for 1025 which is .50 to the Aug High or 1093 which is .618 to that same high. This is SP 500 futes. I won’t make a trade based on those but will watch price action if we reach there to see if a reversal is setting up. You might also want to watch the 200 day MA which I think is worthless but alot of institutions makes plays at it.

[Chris Scoreboard Johnston]

Based on my review of the COT report as well as someone else’s who is more of an expert with it than I am, it has become clear that the PPT is behind this rally. Nobobdy else could carry the kind of losses that the large speculators seem to have by buying this whole downmove except the PPT. As a result it is possible it could be a very sharp rally. Guessing price levels is going to be tough, Fib analysis I think is very erratic in general, but it calls for 1025 which is .50 to the Aug High or 1093 which is .618 to that same high. This is SP 500 futes. I won’t make a trade based on those but will watch price action if we reach there to see if a reversal is setting up. You might also want to watch the 200 day MA which I think is worthless but alot of institutions makes plays at it.

[Author]

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