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IBDvalueinvestin (98.35)

Major Snap back Rally today because even the gloom & doom crowd at Bloomberg are out



February 19, 2009 – Comments (4)

pointing the positives of Obama's Pledge $275 Billion to Stem Foreclosures, Help Borrowers

Its not a surprise either that its one day ahead of options expiration. We have had a major snap back 2 times before during the last 4 months in the day before options expiration. It happened in October & November but skipped Dec. and Jan. but based on us retesting Nov. lows again we are primed to get that major snap back that we got back in Oct. & Nov. today. Short covering ahead of options expiration.


Stocks primed to get a major snap back?


4 Comments – Post Your Own

#1) On February 19, 2009 at 9:37 AM, IBDvalueinvestin (98.35) wrote:

This could easily setup as a +200 point gain on the DJIA based on the massive short interest that is willing to cover before options expiration.

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#2) On February 19, 2009 at 10:02 AM, IBDvalueinvestin (98.35) wrote:

Wow look at this, surprise , surprise

Positive news on  10:00  ECONX January Leading Indicators +0.4% vs +0.1% consensus, prior revised to +0.2% from +0.3%

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#3) On February 19, 2009 at 10:26 AM, sox123 (< 20) wrote:

I wish there would be a great rally today but as long as the Dow and NYSE have the commentators they have that are so negative, there will continue to be a struggle.  These commentators are so knowlegable, maybe they should go to Washington and solve the problem.  They are the problem and maybe they should tie their tongue in a knot for a while.

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#4) On February 19, 2009 at 10:26 AM, Mary953 (85.18) wrote:

Give it another day.  A Friday afternoon desperate drive - if even that is possible.  I'm still waiting.  I would rather miss the absolute bottom and catch things on the way up.  Good Luck though.

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