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For the week of...
February 8th, 2010:

Dow Projections:

These are all support lines around a 10% Fibonnaci retracement:

9476
9560

9667

9750

9841

9950

These are the resistance llnes if the market holds at a 10% retracement

10,050-10,127

10,267

10,350-10,437



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Blue Chip Options is: ATR, Support and Resistance, W.D. Gann, Richard D. Wyckoff, day trading, swing trading, MACD, VIX and online stock trading. We TEACH and MENTOR.

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Why Index Options are Like Buying and Selling Fruit

Free Blue Chip Signals and Commentary
For the week of...
February 8th, 2010:

BCO Commentary:

Last week in the market was an argument between optimism, pessimism, oversold, overbought, supply and demand, and cause and effect=all in one

Friday showed how VIX, and the complacency the market had felt, was far from true; instead, a pent up consolidation continued to erupt.

The market hit theoretical Dow lows Friday of 9797, only to close at 10,012, or 10,042 on the theoretical. For months Floyd has provided projections, and discussed what is called a Fibonacci retracement. This ancient mathematician used his numerology analysis to predict that from the "lowest low" of something it will rise 38 and then 63%. The market did just that and we predicted hesitancy and confusion at 10,746. We've been doing so for months. As the market reached this, and a slight step above it, we began to see the faltering. Fibonacci and chartists typically see a 10 to 20% pullback from the new 63% highest high. This would put the Dow at 9671. Friday we came very close to this bottom before ending the day, psychologically important, 10,000 mark.

“We are not human beings going through a spiritual experience. We are spiritual beings going through a temporary human experience”

This great quote came from subscriber Johnny K, our trader with a life threatening brain tumor that speaks with me daily.

We must learn this experience as we trade. Trading is a human art, and a form of discipline.

Click here to read full article...

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www.oexoptions.com/www.bluechipoptions.com and parent corporation TEGLLC do not act as professional investment advisors. Officers, directors, employees and associated individuals may own or have positions (long or short) in the securities discussed in our regular newsletters, updates, and on our website, and we may sell or add to these positions. www.oexoptions.com <http://www.oexoptions.com> or at www.bluechipoptions.com and TEGLLC provides investing information as an educational service only. We think the data we review and comment on is reliable; however, the reliability cannot be guaranteed.

TEGLLC et al does not provide individual investment advice, or individually recommended purchases or sales of investments. You should consult with your investment advisor about the educational information provided, and fully understanding the inherent risk in option investing.

DISCLAIMER: Stock and Options trading is very risky. One may lose a great deal of money (maybe all), trading stocks and/or options! Before you proceed, you must agree and fully understand that this site and its contents are not meant and were not developed to be viewed as Trading Advice or Recommendations. You agree by viewing the contents of this site that you do so at your own discretion and that you will not hold accountable anyone affiliated with this site or OEX Options or BlueChipOptions.Com for any losses or interpretations one may have. If you trade, you ALWAYS do at your own risk. Past performance is no guarantee of future results. We encourage traders to view the material provided on our site and we hope that you will find it educational.

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN; IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK OF ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL WHICH CAN ADVERSELY AFFECT TRADING RESULTS.

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