Saturday, April 13, 2024

Weekend Update – The Final Countdown

Important Friday Update...

(to watch on youtube: http://www.youtube.com/watch?v=EFwUDSUm2BI )

My Twitter and Facebook accounts are (should this happen again?)...

http://www.facebook.com/reddragonleo

http://www.twitter.com/reddragonleo

Red

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Wednesday Update...

(to watch on youtube: http://www.youtube.com/watch?v=Mbi8r4_iUC8 )

Red

_____________________________________________________________________________________

Tic Toc, Tic Toc... the end of Primary Wave 2 up is almost here!

The last year has been extremely painful for the bears, but I believe it's final over.  While I was fortunate enough to have a friend share the DIA print with me and the readers here on the blog back in May of 2010, I wasn't wise enough to just go long until it was hit.

Instead I shorted mostly, with little success.  Yes, I'm still alive... and that says a lot in of itself!  Many bears died on this bull train ride, paid for by the American taxpayers.  But now the ride is almost over, as the last stop for the bulls is coming up next week.

After that, the train heads straight south... toward hell.  All the excessive eating the bulls did (leveraging their long positions, and using margin) is going to make them too fat to exit through the doors on the train, leaving them to get eaten by the hungry bears on board.

Yes, as it was foretold to us, so it shall be.  The train ride down will look like the rollercoaster ride from Hershey, PA called Storm Runner... which doesn't look like it made for those with a weak stomach!

Needless to say, this isn't a ride the bulls will like.  Yes, it will end ugly as the bulls must take their turn in the slaughter house too... and there's a ton more bulls then bears, meaning the blood will run deeper!

So, for all those traders and forecasters calling for 13,000 on the Dow, I have some Viceroy tulip bulbs for the discounted price of $1,250 each to sell you!  Yes, they are original tulip bulbs from the 16th century Dutch country land... one of the kind (LOL).  How many do you want?

Moving on...

(to watch on youtube: http://www.youtube.com/watch?v=zCPnOha57lM)

For the short term, the 60 minute chart is showing the possibility of a gap up on Monday, with a continued run higher... probably to about the 1280-1290 spx area, hitting or slightly piercing the upper trendline in this rising wedge (better known as the slow ride up on the rollercoaster).

It's hard to say the exact target, but I do expect the DIA print to be hit while the SPX is somewhere around that 1280-1290 area.  Remember, there are only 30 stocks in the Dow and 500 in the SPX... so the correlation between them isn't an exact science.  Just watch the DIA on Monday for your short entry.

Call this move up an "exhaustion gap" and/or "bear stop sweep"... as both are appropriate.  Keep your eye's open for more FP's as I expect to see them on the way down (Note: there is a thousand people a day that reads this blog.  That's a thousand pair of eyes watching).  Your input and help is asked by me and the other readers, so let's all work together as a team... OK?

I'm also expecting for Wikileaks to release something damaging shortly, as "some news event" needs to be the blame for the sell off coming.  Of course it doesn't have to be Wikileaks, but there will be some "planned" news released to jump start the selling.

While I'm speculating on this, I think we could go down to the 106 spy FP for Major Wave One, taking about 2-3 weeks or so to hit.  Then a move up for a week or so, into the Legatus Pilgrimage time period of February 3rd-5th, 2011.  After that Major Wave Two bounce (and after the meeting is over), I expect Major Wave Three down, (inside Primary Wave Three... aka P3!) to be the move down to the Dow 8300 (SPX 885) area.

It's possibly that the Wikileaks news could be released then, and something else released this week for the first wave down.  Since we don't know how damaging the data is that Wikileaks claims to have... if it's really bad, then "they" might save it for the end of the Legatus Pilgrimage and the start of Major Wave 3 of P3!

Again, all just speculation... but it would line up nicely with elliottwave charts too.  So wake up Bears!  Hibernation is OVER!  It's time to party like it's 1999 again!  Go mortgage your house, buy all the "shorts" you can, and just default on you house payment later... everyone else is!  (Just kidding).

Red.

Congresswoman Gabrielle Giffords Shot by Illuminati mind controlled kid

P.S.  I just heard that Congresswoman Gabrielle Giffords was shot.  This is an obvious attempt by the gangsters to put down a good person.  I ask that everyone support this woman, and send your prayers her way.  If anyone can find out how to support her financially, please let me know and I'll put up a link to her site or paypal link here on the blog.

P.S.S.  Since the gangsters don't like her... I love her!  My new bumper sticker will say "Gabrielle Giffords for President".  God be with her please...

Red
Author: Red

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Muzzalee
Muzzalee
13 years ago

Well done Red – its so nice to see a bit of a spring in your step.

Thanks

Red Dragon Leo
13 years ago
Reply to  Muzzalee

Yes Muzzalee, I’m a happy go lucky person… poor in my wallet, but rich in soul (which is all that matters anyway!)

Jigsaw
Jigsaw
13 years ago

Nice post as always Red! McHugh is giving away his weekly news letter for anyone interested

https://www.technicalindicatorindex.com/sample-issue.asp

Red Dragon Leo
13 years ago
Reply to  Jigsaw

Thanks Jig…

I think Chris Carolan should also do that from time to time. It might help gain more subscribers? He follows cycles relating to Astrology, with the planets and the moon I believe and has some interesting stuff (when I could read it for free).

But we also have the Spiral Guy, and many others listed in my “Astrology Moon Cycle” list that are free. The Spiral Guy’s chart lines up perfectly with a turn over this weekend on the 9th.

Of course I still us spiking higher to hit the FP first, and then reversing back down… which should happen on Monday I believe. Then the train heads south and/or the roller coaster starts back down.

Jigsaw
Jigsaw
13 years ago

Nice post as always Red! McHugh is giving away his weekly news letter for anyone interested

https://www.technicalindicatorindex.com/sample-issue.asp

mschemeng
mschemeng
13 years ago

Thanks for your posts, Red
Fairly safe to say your FP, when reached is a safe place to short…another Gann / EW expert (paid subscription), has same “extreme” targets for this run, and says that mid Jan is final peak for 6-12 months but maybe much longer (basically, bear market into 2012)…Same for gold, his target is about $1050, but I can see how in “heat of the moment” you FPs can be hit…I’ll be a buyer there, as he sees gold going parabolic into 2013. He was bullish in the fall (but I didn’t listen), he also called dollar bottom and bond top (perfectly)….Dollar to continue up into June 2011, Euro down in same time period…

My scenario is same as yours (maybe slight bounce into early Feb), major selling Feb into end of March…

PS. I’m a European chick in Canada, “Europe” was my Justin Beiber…LOL…Very few people who know of Queensryche, but it seems their lyrics apply more today than ever, look at lyrics of “Operation Mindcrime” …it’s like they were written for yesterday’s senseless crime in Arizona, because that boy sure seem to be “remotely controlled”…buy the way, I do think that the “final countdown” will be a countdown to (not) bailing out Spain, and it has to happen before April, when most the Spanish debt is due to roll over…

Red Dragon Leo
13 years ago
Reply to  mschemeng

Thanks for sharing (and posting) MsChemeng… And yes, I wore myself out listening to Queersryches’ “Operation Mindcrime” CD. I love it! It’s a work of pure genius the way the lyrics flow from the first song to the last… all completing a story that’s fits today’s evil world perfectly.

Do post more often, and keep praying for Gabrielle Gifford… as in the future, she could be the “hope” America needs?

Anonymous
Anonymous
13 years ago

That shooting was sad. Six people died. Giffords is still in critical condition after being shot in the head and I am hopeful she will be able to recover from this. My whole church will continue to pray for her.

Red Dragon Leo
13 years ago
Reply to  Anonymous

Thanks Dziemer…

I don’t recall seeing a FP on Silver of $19.00, so maybe I had one and lost it? I’ll just use the price of Gold as my gauge for my entry long on Silver.

Glad to hear your whole church is praying for Giffords. She’s must have lots of Angels protecting her now.

zstock7
13 years ago
Reply to  Red Dragon Leo

About the Assassination today! I have to agree with this guy! The rhetoric is getting too violent, and must be censored!
http://www.youtube.com/watch?v=LwB3o5L5XY0&NR=1

Anonymous
Anonymous
13 years ago

Red, I know you said you didn’t have any FP for silver. But I do remember from a long time ago a FP for silver at $19.00. Can you confirm this?

I am heavy on Silver Puts because of the major bearish divergence on the macd and rsi on the daily silver and gold chart.

I think we will continue a push down in Silver and then we should be off to new highs in silver and gold for the remainder of the year.

I could be wrong though and eating dog food later this week because of my bad judgment.

Demien
Demien
13 years ago

comment image

Red Dragon Leo
13 years ago
Reply to  Demien

Nice chart Demien. Since this is week 7, and the SPX hasn’t had more then 6 weeks up in a row, that just another nail in the coffin for the market.

steveo77
13 years ago

I started a project that I call “Real Data”. For the most part these are Excel Spreadsheets that are 100% downloadable with a direct link and no spam.

Truth benefits the recipient. Same as “Real Data”. The powers that be do not want to provide Real Data, because it does not benefit them.

One cool sheet I have already is Sentiment Data going all the way back to 1987. It is yours, for free. Real Data.

You got some Real Data you want to share? Drop a comment or email the data to me at stock *at* hawaii.rr.com

Check out the Real Data here

http://oahutrading.blogspot.com/p/real-data-series.html

steveo77
13 years ago

I started a project that I call “Real Data”. For the most part these are Excel Spreadsheets that are 100% downloadable with a direct link and no spam.

Truth benefits the recipient. Same as “Real Data”. The powers that be do not want to provide Real Data, because it does not benefit them.

One cool sheet I have already is Sentiment Data going all the way back to 1987. It is yours, for free. Real Data.

You got some Real Data you want to share? Drop a comment or email the data to me at stock *at* hawaii.rr.com

Check out the Real Data here

http://oahutrading.blogspot.com/p/real-data-series.html

richie
richie
13 years ago

red,

thanks for the weekend update! patience is a b*tch, but we are almost there!

hey red, you’all should put up a donate button. i would use it. you deserve a good bottle of wine here and there for all your hard work!

Red Dragon Leo
13 years ago
Reply to  richie

LOL… thanks Richie. I’ll think about it.

Robert
13 years ago

Good evening all. Alcoa should start off earnings season with a positive bias. Pomo will keep the market going up to 1300 area. Enjoy the ride up…….

Red Dragon Leo
13 years ago
Reply to  Robert

Hey Robert, do you plan on bailing out of your longs when 1300 (or my DIA FP) is hit, and then going short? Just wondering if you think the market will continue up past the DIA print?

zstock7
13 years ago
Reply to  Red Dragon Leo

LONGS? where can I find one? I’m already out of my longs!

zstock7
13 years ago

Shorting WYNN,CSX asap—overpriced mongooses is what they are!

zstock7
13 years ago

The RSI is about to crossunder the 50 on this chart, and that’s really bad for bulls—the only exception happened at the mid July point, which resulted in the SPX going up another 50 points—

http://slopeofhope.typepad.com/.a/6a00e00989822288330148c76f4cd0970c-500wi

zstock7
13 years ago

Here’s the Assasins youtube page—I’m surprised it hasn’t been taken down.
http://www.youtube.com/user/Classitup10

Red Dragon Leo
13 years ago
Reply to  zstock7

How obvious is this that this kid has been programmed? Very obvious too me. He signed up for his youtube page about 3 months ago, and only put up some black and white text message. Come on! This reeks “fall guy”, “pawn”, “set up”, “patsy”…

Total Mind Control was done on this kid, from an early age. One he doesn’t even remember. A call was made, and he was “triggered” or “activated”.

But, the good news is… the assassination attempted failed!

zstock7
13 years ago
Reply to  Red Dragon Leo

Any idea what the agenda is? Palin taking a real hit on this, especially on CNN.

Red Dragon Leo
13 years ago
Reply to  zstock7

No, I don’t know? But I would suspect that “they” don’t want Palin winning the next Presidency, so they are trying to trash her now… before the next election.

Who they want in, is unknown? But I did read somewhere on Ben Fulfords’ blog (some time back?) that “they” wanted to replace Obama with Hillary (or General Petraeus?).

I think Palin is a “wildcard” that “TPTB” don’t control… yet. But she’s still NOT what America needs right now as President. We don’t want another Satanist Puppet like Obama is, or his replacement Hillary… as she’s just as bad.

We need someone like Ron Paul, as he seems to be the only one standing up (at least that we see publicly) to TPTB right now. It’s too early to tell if he’s really a “wolf” in “sheep’s” clothing, but right now he’s America’s best hope… NOT Hillary, Palin, or anyone else I’ve seen.

However, since “they” (aka… TPTB) tried to assassinate Gabrielle Giffords with some brainwashed kid, that tells me that she is their worst enemy.

And you know the old saying…

“The Enemy of my Enemy is my Friend”

I say for 2012…

Ron Paul and Gabrielle Giffords for “Taking Back America”

Red Dragon Leo
13 years ago
Reply to  zstock7

How obvious is this that this kid has been programmed? Very obvious too me. He signed up for his youtube page about 3 months ago, and only put up some black and white text message. Come on! This reeks “fall guy”, “pawn”, “set up”, “patsy”…

Total Mind Control was done on this kid, from an early age. One he doesn’t even remember. A call was made, and he was “triggered” or “activated”.

But, the good news is… the assassination attempted failed!

steveo77
13 years ago

Impressive Trade Ideas
While I have been wasting my time trying to trade S&P 500 futures, perhaps the most liquid but also gamed by HAL 20000 computers, I have actually done better using specific stock trades that I have identified from patterns and candlesticks, and really, from ideas that I purchased.

Check out this trade log, there are a few losers for sure. Let the stop do it’s work, then move on, NEXT TRADE!

These are from Breakpoint Trades
http://oahutrading.blogspot.com/

Red Dragon Leo
13 years ago

New intraday FP just showed up… 117.15 spy. This market is going up!

Red Dragon Leo
13 years ago
Reply to  Red Dragon Leo

Sorry, 127.15 spy… (I must be getting too excited on the coming sell off… LOL).

richie
richie
13 years ago

i WANT one more SHORT squeeze – is that too much to ask for??? AHHHHHH is anyone else at the edge with this daily chop???

Anonymous
Anonymous
13 years ago
Reply to  richie

Wake me up when we go positive.

Red Dragon Leo
13 years ago
Reply to  richie

Richie… you’ve be dead on accurate about the market. I’m just wondering if you plan to go short when 1300 (which is about the level of the DIA print) is hit.

I’m in agreement with you on “one more squeeze” as they never make it this easy to catch a move down. Since tomorrow has been a down day recently, I expect it to be an up day (gotta change things up from time to time, or else the sheep will start making money).

richie
richie
13 years ago
Reply to  Red Dragon Leo

red,

short will be the most lucrative way to go, and so i will go short. i am unsure what the S&P will top out at, but my gut tells me 1300 is too perfect a number – and symbolic too. the DIA was finding a bid at points today when the s&p was dropping – so that final S&P number is beyond my comprehension. i am expecting something big to mark 1/11/11 – something of importance. i am hoping tommorrow will mark the top of the market – so it will indicate both the end of P2 and beginning the return to the bear market. I am looking for the catalyst to gap the market up overnight – the world wide economic calandar is light….. there has never been a new leg of a bull market that has been built upon a move with so many unfilled gaps up ever – in the history of the market. this is what we have had since the 1040 low of july of last year. the entire move will be retraced – that much i do know…….

budfoxxx
budfoxxx
13 years ago

Hey red,

I was wondering I thought you also had a fake print on qqqq or qid? Where did that one go to?

Red Dragon Leo
13 years ago
Reply to  budfoxxx

You mean this one?
comment image

I don’t see that happening anytime soon. But we’ll just put it on the “back burner” and remember it when the market starts its’ “HyperInflation” rally.

Robert
13 years ago

Buy the dip silly. Nice bear trap today. Very dangerous to short this strooong market. Chop should continue this week, a traders dream. Hey Red, in answer to your question, I think we do correct some after 1300ish. I do not believe we see your significant downside until summer. The rig is in with POMO. Don’t fight the Fed.

Red Dragon Leo
13 years ago
Reply to  Robert

Well, it’s possible that we could chop around for awhile long, but I don’t think they can hold it up until summer though. That would imply we go much higher then the 1300 area.

What makes you think that the POMO will be able to keep it up that long? Borrowing from one credit card to pay the payment on another is exactly like what the Fed is doing with these POMO’s.

It can’t go on forever. Like I said, we could go down into the Legatus Pilgrimage date for Major Wave ONE. Then rally back up into March for Major Wave TWO. If it happens like that, the Major Wave THREE will start sometime in March, possibly April… but I can’t see June/July/August.

Of course if the market takes out the 1300 level, then yes… they will chop around until summer. I’d be interested to know how you make your decisions to stay long or go short on the market. You should email me sometime with more details.

Robert
13 years ago
Reply to  Red Dragon Leo

I feel it’s all about interest rates. Until the 10 yr gets to levels where bonds look attractive people will be in stocks. Of course there can always be an EVENT that will sink the market like Europe or muni defaults.

Red Dragon Leo
13 years ago
Reply to  Robert

I’m sure there will be some type of “event” to start the selling. But until then, this light volume could keep the market choppy. (Don’t forget to email sometime).

budfoxxx
budfoxxx
13 years ago
Reply to  Robert

Robert, here I do not agree with you. You seem to be blinded by the market. Everything always looks best at the top.
Portugal needs help this week.
Look at the IRISH CDS.
It is a matter of time before hell breaks loose.
How could it not be. Basically we have been celebrating that europe is about to fall apart.
I am not a big fake print believer until we see this 118.16. If the market tanks big after that, then I am in.
However, caution adviced with this extremely bullish market Robert. You have been right for some time. But things are about to change. Dont get trapped.

Robert
13 years ago
Reply to  budfoxxx

Don’t worry about it. Haven’t you noticed, China’s buying Europes debt.

Anonymous
Anonymous
13 years ago

Christina Green one of the girls who died in the Arizona shooting was born on 09-11-2001.

Amazing to see Giffords survive a point blank shot to the head. I am glad she appears to be recovering 🙂

Red Dragon Leo
13 years ago
Reply to  Anonymous

I’m glad to hear that to Dziemer. Sad about the girl dying, but you know those evil gangsters had to fulfill their ritals.

Anonymous
Anonymous
13 years ago

I’m not sure how this is calculated out, but apparently you can price the market in silver and gold and see how much value the S&P 500 lost.

steveo77
13 years ago

All new ratio. Volatility on Crack VOC. Forms nice lines, really does.

And sorry Dr J, I lifted one of your charts.

http://oahutrading.blogspot.com/2011/01/all-new-voc-ratio.html

Red Dragon Leo
13 years ago

This “chop chop chop” action is ridiculous. It’s like torture to set and watch. We know where the market is going… just hurry up and get there! Please!

richie
richie
13 years ago
Reply to  Red Dragon Leo

i am in disbelief! i thought for sure 1/11/11 would be more significant than ‘chop’chop’chop….. red can you call up the legatus crew and remind them to GET A MOVE ON!!!!

Osikani
Osikani
13 years ago

As far as the Congresswoman, I do not think that she was targeted by the illuminati. If they wanted her dead, she would be dead, as they would have had a backup sharpshooter to shoot at the same time as the patsy, using the patsy’s gunshot sound to mask the real assassin’s bullet.

Red Dragon Leo
13 years ago
Reply to  Osikani

That’s quite possible… I never thought about that? Or, their arrogance was positive that the kid would do the job, so they saved some money by not hiring a back up shooter.

Red Dragon Leo
13 years ago
Reply to  Demien

It takes awhile for the rats to bail out… I guess because there are so many of them! LOL. I’d say there has been selling like that all of last week too, only it might have been broken up in smaller blocks to go un-noticed.

Volume on the SPY is only 75 million right now. It might break a 100 million by the close, that’s not any real selling pressure. You’ll know when the market is really tanking, as the volume will go over 200 million.

anon
anon
13 years ago
Reply to  Red Dragon Leo

The judge was the real target. And I am pretty sure there was a second gunman al a Sirhan Sirhan who targetted the judge while the patsy was the distraction. The “person” of interest who no longer is a person of interest. The patsy also admitted in one of his videos he was a military recruit. A mind-controlled idiot.

Gold_Gerb
13 years ago
Reply to  anon

oh yeah, what happened to the “person” of interest for OKC?
yeah, always the ‘lone nut’.
sad.

Red Dragon Leo
13 years ago
Reply to  anon

The kid was probably in the same program that Duncan O’Finioan was…

http://projectcamelot.org/duncan_o_finioan.html

Red Dragon Leo
13 years ago

I’m disappointed that a blow off top didn’t happen today. Bummer! Maybe they will wait until Friday, and then tank it over the weekend? Something needs to give soon, as I’m tired of waiting.

But, I’m stubborn… and I refuse to get short until the upside print is hit. These daily swings up and down are designed to trap the bears. I’m not going to be one of them this time.

Demien
Demien
13 years ago
Reply to  Red Dragon Leo

IT’S TRUE

Osikani
Osikani
13 years ago
Reply to  Red Dragon Leo

You and me both. I coded something that I call noise bands, and until the market closes beneath them, I am sitting on my hands until they hurt.

http://screencast.com/t/W0xhrHRks3Y

Red Dragon Leo
13 years ago
Reply to  Osikani

Nice chart, but it doesn’t look too accurate in the past. I do believe it will work this time though.

Osikani
Osikani
13 years ago
Reply to  Red Dragon Leo

I guess that depends on what accuracy one defines as acceptable. Of the last 1 signals, 3 failed to go in the break direction for at least the noise value, and 7 went on for considerably more. I have loved a 70% accuracy for a long time. Of course, being me, I did not take every one of the long signals, and took every one of the short,

http://screencast.com/t/kNOJlZxn

Robert
13 years ago

Nice grind upward. Upward to 1300 we go. A little heads up Red, POMO gets updated tomorrow about 2:00. Any hint of less funds going in could create a selloff. Rally on…………

Red Dragon Leo
13 years ago
Reply to  Robert

Well Robert, if the POMO is updated at 2:00 pm (is that EST?), then they need to push this up hard to the FP on the DIA before that’s released, as I suspect that “something” wicked is coming soon… so it might as well be blamed on less POMO money as anything else.

That allows them to save the really damaging data (from Wikileaks I believe) until later this year to kick off Major Wave 3 of Primary Wave 3! That one is going to be ugly!

Robert
13 years ago
Reply to  Red Dragon Leo

Yes, thats EST. We are going to break out of this trading range and I think its going to be big. Lets hope there is no surprises from the FED and rally hard. Big storm coming in to Wall street tomorrow. Lets hope the traders show up…….

Red Dragon Leo
13 years ago
Reply to  Robert

Are you also thinking that the POMO news will scare the market and cause the sell off we’ve been waiting for? I can only say that if we hit that 118.16 print, and stall out just before 2pm, then I can see the news surprising Wallstreet… let the selling begin! LOL

Robert
13 years ago
Reply to  Red Dragon Leo

Follow the break…..I don’t think the Pomo will disappoint but I will be watching closely………

VM
VM
13 years ago

let me remind you 1 thing prob it help you to determinate strategy of short entering. sp500 Jul hi was 1120,95. aug – 1129,24 sep – 1157,16. oct – 1196,14 nov -1227,08. dec – 1262,6 and curen hi in jan is 1278. in a row max of max climbing we have 0,74%, 2,47%, 3,37% 2,59% 2,89% and at last in a moment jan max/max hi is 1,22%/ Im statisticly analizing a hi, hi and low, low, for almost 50 years and its very low probability that we will go above 1300. Afer such row min 7% -10% correction essentual imo.

Red Dragon Leo
13 years ago
Reply to  VM

I’m with you on that one. I think that too many bears are waiting at 1300… which means they will fall short of it a little, not allowing the bears onboard. Also, I think 1300 is a little too high when compared to matching up with the DIA 118.16 print.

VM
VM
13 years ago

We will up max till 1290 in jan and down to 1230 as a min cos its a min – max range of mounth in current vol conditions is 6%.

VM
VM
13 years ago

One idea in addition its since a aug vix not broke his max of max in a mounth row view its a first time for a longest time and let me supouse that a hi volatility time on the way day to day staticticly its evident in a face.

ACP
ACP
13 years ago

Trichet has been frontrunning the most vulnerable Eurozone bonds; Greece and Ireland. Look at the yields drop – they’re going to do everything they can to make sure the Portugese auction go well. POMO will be big as usual, I can’t see why it wouldn’t be bigger than the last tranche.

What monkey wrench will be thrown in the mix?

Anonymous
Anonymous
13 years ago

Silver broke out at $29.57 around 7PM. Silver is bullish yet again!

Looking to pass $30.00 overnight. A fast move to $35.00 is possible.

richie
richie
13 years ago

red,

dax up 1.34%……today is the day! we will hit the FP today for sure! Finally!!!……

richie
richie
13 years ago

red,

dax up 1.34%……today is the day! we will hit the FP today for sure! Finally!!!……

steveo77
13 years ago

Tick has continued to fall off its prior ledge, though prices levitate

See our Indicator page, check the pages, I am trying to make them more useful It all takes time, our most precious resources.

http://oahutrading.blogspot.com/p/new-page-for-testing.html

http://oahutrading.blogspot.com/2011/01/tick-has-continued-to-fall-off-its.html

Red Dragon Leo
13 years ago

We opened at 117.15 on DIA… we’re getting close now! Maybe the 2 pm POMO data will be the reason to tank her? Or, maybe the news will first spark the move higher that we’re looking for, and then it sells off? Either way, I’m going short when the target is hit. Good luck everyone… may the force be with us!

Johnny T.
Johnny T.
13 years ago
Reply to  Red Dragon Leo

As of right now, today’s high on DIA is 117.42, so we’re ~.6% away! The question is how close to the FP is “close enough” to call it hit?

zzb
zzb
13 years ago

Hi Red, ……..and also with you.

Red Dragon Leo
13 years ago
Reply to  zzb

Glad to have you onboard the rollercoaster ZZB. This should be a fun ride down! I hope the bulls carried vomit bags…

Darek_g
Darek_g
13 years ago

red!!! what was that “fake print ” number on DOW???

Red Dragon Leo
13 years ago
Reply to  Darek_g

It’s 118.16 Darek, and I expect it to be hit within a few pennies at least. It’s more about the timing of it to, as that 2 pm POMO news could be the same time the high is put in.

Johnny T.
Johnny T.
13 years ago
Reply to  Red Dragon Leo

Red, he is DOW on DIA. Darek, is this the one you are looking for?:comment image

Johnny T.
Johnny T.
13 years ago
Reply to  Johnny T.

Somehow my spelling was messed up. I meant to say, he said DOW not DIA…

Darek_g
Darek_g
13 years ago
Reply to  Red Dragon Leo

RED!! if that happens i Start Believing in Government control

Red Dragon Leo
13 years ago
Reply to  Darek_g

I thought you already did believe! LOL…

Darek_g
Darek_g
13 years ago
Reply to  Red Dragon Leo

yes!!! but this is full control

Anonymous
Anonymous
13 years ago

India may use gold to settle oil trades with Iran:
http://www.ibtimes.com/articles/99316/20110110/india-may-use-gold-to-settle-oil-trades-with-iran-et.htm

Silently slipping away from the use of the Dollar. The petrodollar is one of the only reasons the dollar hasn’t collapsed.

Red Dragon Leo
13 years ago
Reply to  Anonymous

The dollar has been going up, while the market has too. If the dollar rolls back, will the market follow? Or, will the inverse relationship they’ve had in the past come back into play?

On the weekly chart the dollar still has room to run up, but on the daily chart it could roll back down for awhile. Hard to figure this one out?

Anonymous
Anonymous
13 years ago
Reply to  Red Dragon Leo

IMO DXY is not really an accurate way to measure anything. The dollar is just weighted against a basket of other currencies. The driving factor has been strong oil prices & the weak Euro.

It’s hard to tell what will happen in the short term. But long term I think we will severe a lot of “traditional” relationships.

We very well could just continue to go up where stocks will reflect even higher and inflated prices.

Anonymous
Anonymous
13 years ago
Anonymous
Anonymous
13 years ago

Red,
Whatever happens today, it may be all you will get…if you are itching to short something FOSL has started to break down, as it did most Jan in the past (my puts are finally paying off)… Few people I follow have been pointing to top Jan 12th in time, most are saying their upside objections are satisfied…there may be 100 Dow points you are leaving on the table, but given the “publicity” of you blog, we may stop short and reverse violently (banks earnings, Europe)…We all agree on straight down on Feb, and they may shut the door early…kind of like May 2010 was suppose to be an upside month, then down… we know what happened…
It’s a good time to increase volatility and leave majority very exposed into Feb, where all they can do is sell. I can see how CNBS will spin first few days as “needed correction”, than everyone starts to realize the worse is yet to come

richie
richie
13 years ago

red,,,

today the DIA FP will be hit….i use the DAX as a daily indicator, and it ended the day UP 1.67%…..this is more than enough to hit the DIA….i think it will hit and stay, or reverse slightly off that level…..we are close…this is exciting!

Anonymous
Anonymous
13 years ago

Crackhead valuation of OPEN. Fundamental 156.02 P/E. 24% Short Float.

The business is restaurant reservations of tables ¿ – ?

Who thinks this stock is a great buy? Smokey the bear?

Shakes head…I just don’t understand.

Red Dragon Leo
13 years ago

If this market doesn’t roll over after the FP is hit, I’ll be eating mud for breakfast, lunch, and dinner… for the next year!

Just be careful everyone, as nothing is written is stone. While I’ll be risking my money on shorting it, you should all be aware that my exposure of the FP could have changed the plans. So… gamble wisely!

NOPOMO
NOPOMO
13 years ago
Reply to  Red Dragon Leo

I think it is time to ease into short etfs and buying puts on high valuation equities.

Red Dragon Leo
13 years ago
Reply to  NOPOMO

I’m waiting until 2pm or the FP. They should hit at about the same time I believe. Hit the FP and then release the POMO schedule.

NOPOMO
NOPOMO
13 years ago
Reply to  Red Dragon Leo

My thought is they may start driving up the cost of puts & short etfs prior to the highs being hit. Not sure, but we will see…

Red Dragon Leo
13 years ago
Reply to  NOPOMO

Why would they do that? They are the only one’s buying them! They want them as cheap as possible. I’m probably the only bearish blog left right now, as everyone seems to think we are going to 1300 spx, and/or 12,000 dow.

If they go to either of those levels, they will go higher. They have to fall short of the level to not allow any bears onboard. Once the move down starts, the vix will go up big and the bears won’t be able to buy in at the best price. They will be chasing the tape down, just like the gangsters planned.

Believe me… they want the “puts” as cheap as possible.

JD
JD
13 years ago
Reply to  Red Dragon Leo

Hay Red: On an FP related matter. Have you seen the 1-11-11 update posted by Clif High on his website, (Damn…update from Markets entity), regarding a possible sudden derivatives failure associated with the gold/precious metals market? His time frame is a matter of days and likely occurring by 1-25-11, the date of the next Shape report release. What was the FP on GOLD? This could be the catalyst that causes that FP to be hit…

richie
richie
13 years ago
Reply to  Red Dragon Leo

red,

are you looking for a daily reversal candle?? what degree of sell off were you expecting?? the DAX closed near the HOD……

Red Dragon Leo
13 years ago
Reply to  richie

I don’t know if it will close down hard, or just sell off a little? If it just sells off a little, then it should continue with Thursday Job’s numbers. Possibly that will be the news event to cause the sell off?

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