Friday, May 19, 2006

Short-Term Bottom?

This is an unusual intraday post. It seems to me a strong possibility that we're at a short-term bottom. Observe these charts. Here is the S&P 500:


And here is the very important oil services index:


The lows today were set at 11:16 a.m. EST. If these are taken out, then this post is moot. But some short-term trades on, for instance, call options on QQQQ, SPY, DIA, and OIH, might yield some handsome profits for next week.

1 comment:

Tim Knight said...

I agree emphatically, Super Bull. Maybe you should consider changing your screen name to Super Bear, eh?