Buy EDC on the Breakout - Buy EDC on the Back Test
Kudos on the play, and it falls very much in line with how MArmstrong sees the summer playing out. Aside from the momentary blips (like yesterday)we should see Euro strengthening and DOW could go as high as 11k+ by end of July. But we must remember....this is a CHARADE, and is temporary madness. Technical madness. Good analysis Sterling.
Thanks Cmeg. I'm happy with the entry and have intentions of holding to 1044-1070. I think we could see a reversal in that area, but if we continue on up . . . that's fine, too. I would rather see our market, and our country succeed.
I look for a relatively flat day from 11:30 to 2:30 (1101-1103)and a move UP at the close . . . but who the hell knows. I know if I were the one manipulating this market, and I just got through a key level to the upside, I would want to move the S&P as far away as possible from the 1100. 1106-1114 is ambitious, but I bet that's what we see today.
We still could see some additional selling before Friday . . . possibly another day like Monday. We might not be above 1100 for good, but I hope so.
Are you still holding EDZ Cmeg? How about Ed? Ranj? What does it take to get you guys to abandon EDZ?