Not sure about $173 as a buy area, but definitely going short if we gap below $177.50. As long as it stays above $166, it's just a retrace. If it breaks below that, I think we see a longer correction.
But I'd rather wait for the 173 and below as a buy area.
Tracks
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@alDahb, The daily chart looks like it still has some room left in the current bear cycle, so we may very well get there. I don't have a good sense of what the bottom is, but I'll stay bearish until something tells me to change direction. My puts from the open yesterday closed at 160%, so I've got no complaints. ;)
Tracks
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@Tracks, Well we got your $173 area. Not seeing signals to buy yet, so I'll wait in case it goes lower.
AdilDG
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@Tracks, Interest rates up. I'm gonna watch carefully what happens during these 2 days.
Tracks
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@alDahb, Agreed. I have an APR. 6 PUT play that's currently up 180%. I really should have exited EOD, but there is a BIG potential for further down movement.