tag:blogger.com,1999:blog-897456774486153841.post1264283675728763625..comments2024-03-29T03:46:10.767-07:00Comments on VIX and More: Pullbacks in the 2009 Bull MarketBill Lubyhttp://www.blogger.com/profile/01241003017364820134noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-897456774486153841.post-89990405038572871952009-10-02T10:36:24.437-07:002009-10-02T10:36:24.437-07:00Good points, Patrick. I am particularly concerned...Good points, Patrick. I am particularly concerned about the turning down or off of the liquidity faucet.<br /><br />On the technical side, 1080 may be formidable resistance, but so far 1020 has held as support.<br /><br />Earnings season will certainly put pressure on one or both sides of this range.<br /><br />Cheers,<br /><br />-BillBill Lubyhttps://www.blogger.com/profile/01241003017364820134noreply@blogger.comtag:blogger.com,1999:blog-897456774486153841.post-43110479905306404922009-10-01T13:33:06.263-07:002009-10-01T13:33:06.263-07:00I disagree, technically there are a lot of reasons...I disagree, technically there are a lot of reasons why the market would pull back to at least 950 and possibly form a decisive top. I´m looking at the recent and incoming withdrawl´s of free money support from the Fed as a cue, as well as looming unwindings in derivatives caused by a CIT bankrupcty or about 20 other possible major bankruptcies.<br /><br />But hey, this is the market, its beautiful. I tend to bet on volatility and think the markets are in for a profound downtrend pretty soon, and you sell volatility and think we´re in a bull market, we´re both free to put our money where our mind is. <br /><br />Regarding SPX 1100, we need to see what happens with the bear wedge and weekly moving average supports, today´s action may be the start, the market needs to paint a fractal overnight and then get broken through during London or tomorrow morning. Maybe we´ll see a big rally or a slow grind down, but I think a sharp break is more likely should today´s lows be breached.Patrickhttps://www.blogger.com/profile/13614962832390315553noreply@blogger.comtag:blogger.com,1999:blog-897456774486153841.post-63428120032899053602009-10-01T10:41:09.506-07:002009-10-01T10:41:09.506-07:00Thanks Bill - My charting shows support for SPY be...Thanks Bill - My charting shows support for SPY between 102-103. Today's close will be important to see if we will need and ABC correction or we can just rally from here. Earning season is upon us starting with AA Oct 7th.Anonymousnoreply@blogger.com