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» Nasdaq Outlook 10/30-11/5
1:56 PM
This is why I decided that I needed to watch the market today...I got your back. I was going to issue some forward looking option calls but as the market continued today I saw this on the chart:
It would appear that we are at a top or approaching a short term top. If I had issued calls and the market started to go back down, it would have dragged our option prices down with us. So the two week stock climb system is no longer applicable here any more and we are going to go ahead and not use any of those stock recommendations.
In relation to the RSI and the MACD, you can see that they are not near the top as of yet. This indicates to me that there will be some tug of war and chop going back and forth. So knowing this what I am going to do is both the two day drop system and the negative bounce option system taking advantage of a sluggish market. Now that I identified the situation, I will once again begin issueing signals tomorrow on Thursday 10/30.
Stay Frosty,
Mark
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