There is always a bull market somewhere.
Calculating Profits and Losses
Back in the 1920’s, an economist named Frank Knight distinguished between risk and uncertainty. With risk, you should tame randomness with probabilities.
With uncertainty, you don’t even have knowledge of probabilities.
DO YOU….
|
Dow Projections:
For the week of...
Jan 30th
Variables and where we see stopping grounds. This is an area that OEX is most known for its greatest successes, and we're astounded that we're on the same basic 1000 point move for two months. And we hit each number. It's a market waiting to decide if January is going to come in like a bull or bear. We hit 12,774 by Friday and the market hesitated, as it normally would. There is enough upward sentiment note we are adding a new high to projections, with a caveat that if we were to approach 12,950 area we see a greater likelihood of a deeper drop.
| 11,347-11,550-Likely closes and struggle points |
| 11,746-11,890 |
| 11,919-967-Major support line--Caustion |
| 12,040-12,127 |
| 12,127-12,340 |
| 12, 340-12,547-Major resistance lines |
| 12,746 Fib retracment |
| 12,940-13,050-Market top |
We have remained in the same 1000 point struggle for weeks and saw market tops Friday of last week.
Any move 240 points down that closes there or below would constitute a bear move; any other down move we only see as short term. If the market, as it did last week, corrects 240 to 250 points it needs a near 100 point turn around to change the focus.
Any moves above 13,050 we will begin projecting at :
| 13,127-13,268- |
| 13,347-13,390 |
We actively use and support Centerpointe's meditation CDs while trading.
|
Recommended Reading for Traders: Knowing "What" to read and "What Not to Read" is critical when learning to trade. Checkout the recommendations in our |