So far no signs of a sad Monday but it ain't over till the fat lady sings; target achieved - those who went long should now keep a trailing stop loss at 11875 and ride the contracts till the run lasts; a poke at 12k cannot be ruled out as of now.
Shorts should be fully hedged as of now and only when 11500 is broken decively on the downside, one should give up the hedges. [or 1190 level decisively broken on the S&P] - let us not forget that this is a bear market rally; the next leg down will be far more furious than the previous leg down.
There were a lot of pot shots taken at the team when this target was given with Dow sinking near 10400 levels; waves and charts don't lie - sometimes the interpretation does go awry only to return to sanity a couple of sessions later; hope you enjoyed the profits with Long Dow Futures.....
Shorts should be fully hedged as of now and only when 11500 is broken decively on the downside, one should give up the hedges. [or 1190 level decisively broken on the S&P] - let us not forget that this is a bear market rally; the next leg down will be far more furious than the previous leg down.
There were a lot of pot shots taken at the team when this target was given with Dow sinking near 10400 levels; waves and charts don't lie - sometimes the interpretation does go awry only to return to sanity a couple of sessions later; hope you enjoyed the profits with Long Dow Futures.....
Thanks Nagraj
ReplyDeleteReally appreciate all the effort you put into this
Cheers
Joy