May get an attempt to rally (33TD cycle topping) first 2 days this upcoming week, but do not expect a lot of upside. Buy back inverses on any strength. After mid week the shorter swing cycles turn down along with the longer Kitchin/Wall cycles. In other words the push down could get even nastier by mid-week.
Here is a visual:
GL traders...
Update 11-13:
Well the attempt to go up Mon-Tue was futile. Told you not to expect a lot of upside (We got some during the day). Interesting FIB ratio on the hourly S&P chart (thanks to Astro - see blog list for the chart):
Inlet,
ReplyDeleteThanks for your comment on Kli's blog regarding my mother & sister.
I'm still holding my RWM. I believe you wrote once about selling some @ around 26.50. Are you thinking a higher price for RWM now?
Thanks!
Doc - I said in this post about Mon/Tue: "Buy back inverses on any strength.". So yes, I am expecting upside on RWM. Debating if I should sell some RWM or just write some covered calls. Guess I watch and try to figure out which is best at the appropriate time.
ReplyDeleteHope your mom and sis don't get rattled and do anything in a hurry. I get a sense a lot of us may have to relearn how to live with less....
Inlet,
ReplyDeleteThanks. I will hold my RWM for now.
The loss of the $600 x 12 = $7200/year of the Kodak spousal survivor benefit is going to hurt the most. That's a big loss for her. Significant inflation will also hurt.
My sister lives an amazingly frugal life style. She has a large garden & cans food. Even makes her own clothes--she learned how as a child. She will be OK.