Were You Reading This January 15

Posted by Boris Chikvashili Friday, January 15, 2010 1:25:11 AM (Market Report Page at http://www.antisopitalist.net)

12:33 ET, 113.15 is the place on SPY where the daily trend will turn down. If you are a short term trader and are not short , i suggest a) short a little there and the protective stop at today's high. and/or b) short after the retrace from that event, which should show about 50-62% retrace from the top of the day to the 113.15. So there, the strategy for those short term traders who are not short yet. Of course you could do better by watching the APs for retracement within the tables given below on that day, when the retracemnet happens.

05:45 ET, Please see the Asset Oscillators file and the GLD_Price_Time Projection Picture on the Asset Area. Note The GLD price time chart is on a daily bases. So, any day from today if GLD drops below 110 that would be a really bad news for gold. Of course if gold does not go up immediately then it falls below this Gold arc line( support) because the arc itself is rising and asking GLD to rally or die here.

01:29 ET, Things seem to be in slow motion , but underneeth the surface things are going on as expected. It , actually, is better that market did not go down right after 7th and it is playing up/around same prices and CREATING DISTRIBUTION. This morning Dollar is up, creating the trend down conditions for daily EURO and SWISSY. GOld is holding up a bit, but I think Dollar is just about to go higher again and this will/should be centered around Tuesday of EURO CYCLE, which encompasses today( +-2 trading days). There is weakness in AUDJPY and CHFJPY and that is helpfull too in that puzzle. The GBP rallied ( who would have thought of that(:- ). Of course, it seems like I was the only one to believe in that 4-5 months ago and now, of all people, GS/BSers seem to think the same way! ha? (Please, do not get the idea, that GBP is a buy today, it actually, could be a sell today, but we are talking about 5-12 month period ahead).Ok OIL, I think has topped nicely within our prescribed time frame and GOld could make a quick dive here that nobody expects. I would ditch any new long postions taken few days ago. We could have the two types of moves here , by 29th of January. One would be a gentle roll, but they way marekt has refused to break even a little and insists making new marginal highs( how many times did we predict that?), it could also, create a mini crash of 50-100 pts, which would bring us back to our idea of a 5-9% or so decline at some point before Mach. In short, asset allocators follow my announcments and short term traders look for daily/hourly APs to sell the highs and/or look for breaks and retracements after the down trend has been established. Of course, nothing is wrong with some scaling as well, that is, selling a bit by bit around here and upto 1160 in EMINI, with the protective stops around 1180(scaling means small postions, please).