How do you this this will pan out?
Tuesday, August 28, 2007
It's Easier Than Forecasting Hurricane Paths
A week ago on August 21st we announced that the Dow would, more likely than not, bounce back down at resistance. Check it out here then click Back to get back to this post. This, so far, is an amazing display of the power of support and resistance as you can see the new chart below.
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3 comments:
Rich,
I'm still a fan, though I don't check in as often as I should. Could you take a look at this: http://prisonplanet.com/articles/august2007/270807_market_crash.htm
& give me your thoughts?
Thanks!
Wally
I wouldn't worry too much about this. It doesn't look like there is much open interest on this index. Also, the market doesn't have to crash for this guy to make money. A drop of more than 25 cents or so would give him a profit depending on which option he purchased. If there is any truth as to the purchase of these options it looks like they pulled it off the books and are probably investigating the guy. The option chain for this index for the month of September looks pretty quiet. And if the world is coming to an end I hope it waits until I get back from the Bahamas later in September.
Thanks for commenting...can't wait to see you guys.
Great idea for a blog. Keep it up!! :-)
mak
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