jhm
Well-Known Member
So apparently there is a lot of resistance at 260, do people think that would be a good time to buy some put protection and collect a little bit of money on a slight downturn (before I think it trends back upwards on the X reveal), or do people feel like it will be more likely to hover sideways around 260 and not drop at all? I'm pretty sure the X reveal is the next realistic positive catalyst unless there are surprises. (I'm ignoring the book reveal, I don't have a good feeling for which way that will drive stuff, though I do agree with some of the more awareness = more buyers comments above)
I don't think we've seen the momentum traders really jump in yet. $260 is my mark for neutral sentiment. We very well could break past that and move into decidedly bullish sentiment. The trend followers will want to jump in and ride it to a new ATH. We have not yet seen aggressive buying on this leg up.