Wednesday, February 2, 2011

Near and Far

Ahhhh, now some of you are extremely lucky. Living in what I would consider Paradise at the moment, sunshine, maybe a bit of rain, but at least the temperatures are warm, not Icy like the mid-west is at the moment.
Now I am lucky that tonight, because of Mother Nature, I get to do an update that I should have already done over the wkend.  Sorry, again. We have just been cloobered by Old man winter this yr. It feels like winter is never going to end. So to some of you out there, just thank your lucky stars you do not have 3 inches of ice hanging on your roof, to others who might frequent this site and you live in Snow,ice and Fear, well sorry your feeling the winter blues too!!

To my update:  Momentum and Near Term lines in my opinion are BULLISH.. Overbought conditions do persist though long term... some may not agree, that is fine I do understand your stance on that... but for you we still have room to the upside...  I am looking now at the 1310-17 area in the $SPX.  There is of course the possibility of it going higher but lets go for that for now... 1350 is not out of the ?   I got caught on this one to the downside.. so I am a little pissed to say the least.. Mon. was not a good day for the Flipper... oh well we live and learn... have a good day..>L

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