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View Full Version : Hopes On Both Sides - September 28, 2011



Billy
09-28-2011, 06:26 AM
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The gap-fill scenario favoring a window-dressing operation while resuming the selling by large players materialized exactly yesterday. Bears and bulls all have good reasons to be confident now. Bulls will try to buy any pullback and bears will try to short any rally. So the market will likely chop around into the quarter’s end. Today’s equal strength of the two first support/resistance clusters further encourage choppy trading. This tug of war will normally be resolved in favor of the large players who have been net sellers yesterday.
The fact of being stopped out for risk management purpose doesn’t change anything to the strong short probabilities and settings. The IWM robot is looking to enter a new short position today at a limit price of 68.05 with an initial stop at 71.02.

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The GDX robot is back into a strong buy setting. I think there are errors on the GDX robot page at this time of day and I’ve asked Pascal to check and correct if necessary. Please refer also to Pascal’s GDX comments.
Billy

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