DOW: 10309 -154
S&P 500: 1091 -19
NAZ: 2138 -37
Perhaps RSW & FAZ will start to cooperate with us but we're adding to neither yet. We're continuing to hold BWX, TIP, DIS, SHY, BIL, SHV, TBT, RSW, XLP, & FAZ.
- Fari Hamzei (@hamzeianalytics) posted a Bloomberg article written Wednesday, November 25th describing a shakeup in Dubai.
- Read more on the current state of affairs on @abnormalreturns Friday links.
Fib. from October 2007 high of 1576 and March 2009 low of 666 on the S&P gives me a 50% level of 1021. The index peaked recently at 1113. The 38.2% level is 1014 but a lot of damage would be done long before 1014 is even tempted. Pivotal levels of 1080, 1073, 1041, and the recent lows of 1029, and 1019 would be fuel adding to negative sentiment. Despite the action would a dip to 1014 be considered a buying opportunity?
I've got to believe that once 1029 and more importantly 1019 is taken out that we're in bad shape but, hell, we're only talking about giving up the last 3 months of gains, that's all. So do you buy these levels?
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