forgotten friday, page-8

Has anyone read Laundry's intra week update. He is mega bullish. He says that according to T theory this is potentially one of the best bullish set ups he has seen in history - that's right history!!

Usually at the start of a new T we see 7-9 trading days of very rapid upside, before the mclellan oscillator pops agressively through his upper range and takes a bit of a breather. We are 4 days in, and the oscillator still sitting below upper range, so it would suggest we still have a way to go in this first phase up of the new T.

Will be interesting to see what happens tonight with options expiry. With maximum pain sitting at 910 you could see big players trying to hold the market down and limit their pain on sold call positions. But if BofA and Citi produce better than expected results watch out, because the call sellers will be scrambling to cover their positions which could result in aggressive upside. If however they are successful in holding the market down tonight then watch for further upside early next week.

Those looking to go short be wary, as generally when Laundry has this level of conviction he is very often right