$SPX, RIMM

$SPX: The targets for these would be the most latest failed rallies on the way down. These points are: 1525, 1545, 1556.

What will the market do? I have no clue. It's had 6 trading days in the 1488 to 1453 range, over a week. One day, 3 days ago as an exasperation attempt. Even were it dropped to was not a surprise, as it was a failed attempt on the way up to reverse direction at 1433. Two days ago when it was so bullish, it dipped lower to flush out any short sellers and began the bargain hunters buying spree.

Today, I've put a contingent order for RIMM for Aug230C if it exceeds $227.60. This takes out all the tops, but there are couple wicks that are a little above this. A better entry probably would've been at $224.85.
Labels: , edit post
0 Responses

Amazon Store