Hi, these are just ideas not recommendations, sometimes I trade my ideas, sometimes I don’t.
Always remember, yours is the responsibility for your trades,
Good luck,

Thursday, December 22, 2011

Dow 13000 ???

This is an excerpt from an email I got last Tuesday from one of those colleagues that keep pushing newsletters:

“No, I haven’t been hitting the eggnog early this year! The table is now set for a fierce rally, and it’s time to claim your spot at the feast or get left behind. That’s why you are about to hear me say something I say very rarely… It’s time to back up the truck and buy our top game-changing stocks for 2012. We’re seeing some dramatic changes in this market that signal we’re about to see a rally that will take us all the way to Dow 13,000.”

So what do you think, Dow 13000 or Dow 8000 some months from now?

By points:
B ended at 11231
Possible C conclusions are A (1576) x 0.618 + 11231= around 12200
A (1576) + 11231 = around 12800

By time:
Either C ends this week or 1.618 x 25 from Nov 25 = around 4 – 7 January 2012
Logical thinking: 12800 would retrace 1 completely, 12200 is a 72% retracement of 1, 12200 is preferred
Conclusion: if 12200 is going to be the end, either the markets will keep zigzagging for 3 or 4 weeks or start going down immediately, maybe it’s time to buy some VXX calls.

Sorry for not posting most often, I have a very demanding day job
Feliz Navidad a todos,

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From the Dominican Republic - Swing Trader Speculator - Civil Engineer/Project Manager - sternloinaz@gmail.com