tag:blogger.com,1999:blog-37433435.post1674881810798042048..comments2024-01-29T01:52:07.363-05:00Comments on Kevin's Market Blog: Stock Market Moving HigherKevinhttp://www.blogger.com/profile/10858224918246729626noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-37433435.post-34660405312067838872009-01-03T20:26:00.000-05:002009-01-03T20:26:00.000-05:00i also intitiated my shorts on SPY..but willing to...i also intitiated my shorts on SPY..but willing to see if i am wrong. Will be much surprised.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-37433435.post-91459812833682963452009-01-02T23:07:00.000-05:002009-01-02T23:07:00.000-05:00I agree with you about the head and shoulders patt...I agree with you about the head and shoulders pattern not being symmetrical but I have other reasons to believe the market may go higher such as a falling yen, breakout from a low voliatility trading range, seasonally January is bullish for the market, closed above the 50 day average etc.. I think it's worth a shot geting long here with a tight stop.Kevinhttps://www.blogger.com/profile/10858224918246729626noreply@blogger.comtag:blogger.com,1999:blog-37433435.post-5640269883928632062009-01-02T17:07:00.000-05:002009-01-02T17:07:00.000-05:00This write up is a follow up on my comment made a ...This write up is a follow up on my comment made a few mins back about the market direction:<BR/><BR/>I had commented (#4) on your write up of the Q's on 12/11 saying that market is likely to rally the following week. It took 2 more weeks than I had thought, but today it cracked the 30.83 made on 12/9. <BR/><BR/>Looks like market did what I htought it would do (hence I did not short the Q's) Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-37433435.post-38783764049301522362009-01-02T16:47:00.000-05:002009-01-02T16:47:00.000-05:00Kevin,I beg to differ with you on the pattern. The...Kevin,<BR/><BR/>I beg to differ with you on the pattern. The shoulders are not symmetrical and the arm pits are way off. I see more of a double top in SPX, DJ etc, with confirmation on a close below @ 857on SPX and 8500 for DJ. Also, they are way over bought and I expect some selling beginning next week. Today is day 28(sort of mid point) from the 11/21 bottom and I expect market to go down Anonymousnoreply@blogger.com