I Hate To Say I Enjoyed $5700

I mentioned in my previous post that I wouldn't be surprised if we saw 5700. I was able to take a position there which was great considering how quickly we rebounded. At the time of this writing we were $500 above the daily low.

That dip appeared to be a battle of some sort. People have been calling for the 5000s and they got it. The question is - has everyone loaded up to the point that they are willing to hold yet?

It looks like in the short term we will test 6400. Some feel we will see 5000 again. I don't disagree with that necessarily - in the short term it looks like we will see some recovery. In the longer term we may fail again at 6400 6800 and 7200. This weekend seems to have been about pushing the price as low as possible. Lets hope the current trend continues and we make a recovery enough that we can setup some trades.

Those who have been accumulating during this tumultuous time will be rewarded. I hate to be the guy that says this happens every year - but - this happens every year.