What was that?
Did we just finish lower on Friday than Monday? We almost forgot such a thing can happen in Obama’s magic market-land but here we are with a week in which the stock market had not on, not two but three (3) red days out of 5. You have to go all the way back to theweek ofJune 22, when the market was finishing a 600-pont downleg from June 15th, to see so much blood on Wall Street. I have, for a month, been drawing parrallels betwen this market top and the market top that ended on June 12th and it’s all about next week as options expire and things begin to get very interesting.
As you can see from David Fry’s chart on the right, we hit the very tippy top of our expected range on the Qs and then could not close the deal above our $40 line. It didn’t seem too much too ask – just a teeny tiny little breakout and we would have been happy to buy some GOOG and get back into SPWRA and find some other 4-letter stocks to play with, even some semiconductors if the SOX had finally taken out our 308 mark but nooooooooooooo – the Nasdaq couldn’t hold 2,000, let alone our 2,017 target, which they teased us with two weeks ago but never came back to.
IN PROGRESS
