Tuesday, February 22, 2011

Buy confirmed!

Look at the similarities between today and Apr 27.  Bollinger bands were/are extremely narrow indicating a possible big move coming.  VIX closed well above upper BB.   TNA closed Apr 27 about 5 pts off its recent high at about 65.  Two days later on the 29th, it was back up near the highs at 69.50.  That turned out to be a great exit point before the flash crash.  If I had to guess, I would say something similar will happen, which is why I fully expect the buy signal today to be profitable sometime this week.  Overcome the fear and join me on the long side for a few days...

11:35am:  Wow, I'm amazed... this market does know how to go down!!!  We are on track for a buy signal at the close today.  I will update prior to 4pm, but it's a strong buy so I doubt it will change.

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