Well one thing is certain there Amy… they all are a bunch of self serving crooks (except for Ron Paul and and his son Rand Paul). I’m expecting a melt up into September for the up coming Legatus meeting. Not sure what the high will be but over 2000 is guaranteed.
Most likely they will go up toward 2100 SPX but I’m not sure if they will make it or not? I’m kinda expecting a pullback to that 1920-1930 area before resuming the climb toward 2100 but at this point I think we’ll hit 2000 SPX by this Friday and then drop some next week prior to the FOMC meeting on Wednesday.
Then that meeting should spark a move to 2020 or so before the bulls exhaust themselves and we see a nice 80-100 point pullback. If this happens like I expect then that move down will be some kind of wave 4 down with a final wave 5 up into early September for the completion of the Primary Wave 3 up that started in 2011.
Once we end Primary Wave 3 up we’ll see a 200-400 point drop for Primary Wave 4 down… which I think will happen in the September to November time frame. Then we start Primary Wave 5 up that takes us into 2017 for some insane blowoff top of 30,000 DOW or more.
After that we have about a 3 year crash bigger then 1929… but that’s a long way off yet.
P.S. I took a 20% long position into tomorrow and Friday as I think we’ll see 2000 by this Friday. We’ll see I guess…
Red, This is the democratic mid-term election and they are scared to death for losing seats. They will push this market ever higher. So that the Liar-in-chief can look you in the eyes and show you how awesome the market is doing. But we know its only an illusion of wealth for the Sheeple.
Well gang, obviously we’ve made a new high and broken through that chart I posted before the open. At this point I’m in cash and won’t take any position until I see what happens at the close. If we do not sell off any at all then we have probably put in the low and are on our way up to 2020 SPX into next week.
The pattern it will make will of course be a bull flag and from the looks of the technical’s in the charts there is clear signs of this market wanting to turn back up on the larger time frame like the daily chart. While it could fool us and drop lower we really haven’t experienced too many fakeouts in the past related to the bulls.
On the other hand they seems to always fakeout the bears with selloffs that get bought right back up erasing all the gains the bears may have gotten. So I’m leaning bullish if we hold these gains into the close. A selloff into the close will put me back into a neutral “wait and see” mode.
Hmmm… Tuesday, July 22nd, 2014 is 0+7+2+2+2+0+1+4=18… and 1+8=9 (or if you leave the 22 as a whole you get 0+7+[22]+2+0+1+4=36… and 3+6=9 still). Completion of a move Tuesday?
I exited my shorts today for .60 cents as I’m not sure about Tuesday? The rally back up was more then I’d expected. So I’m flat going into tomorrow and would look to short it if it gaps up to just below the prior high of 197.91 SPY.
Should it gap down then I will have missed the move as it will certainly cost more to buy back my position. I could have sold for close to .90 cents (not sure exactly how much it was?) near the 196.50 area low. But I held on because I was expecting a weak wave 2 up (with the gap down being the wave 1).
So I missed a lot of profit on that one but you can’t know everything I guess. I bought the position Friday for .50 cents so I’m happy with the profit I did take. In the event of a gap down I may or may not re-enter the short position. It will depend on how high the quick morning gap fill rally back up takes us? If it’s the wave 3 down I’m expecting then that quick move back up in the first 10 minutes should be shallow and brief.
Meaning I might not get a good entry and would have to pay more for the same put spread. I’ll have too think on it before re-entering as I’m still kicking myself for not selling at the 197.50 SPY support area. Selling is my hardest thing to master…. LOL!
All is well, just vote for me Dow 20k
Well one thing is certain there Amy… they all are a bunch of self serving crooks (except for Ron Paul and and his son Rand Paul). I’m expecting a melt up into September for the up coming Legatus meeting. Not sure what the high will be but over 2000 is guaranteed.
Most likely they will go up toward 2100 SPX but I’m not sure if they will make it or not? I’m kinda expecting a pullback to that 1920-1930 area before resuming the climb toward 2100 but at this point I think we’ll hit 2000 SPX by this Friday and then drop some next week prior to the FOMC meeting on Wednesday.
Then that meeting should spark a move to 2020 or so before the bulls exhaust themselves and we see a nice 80-100 point pullback. If this happens like I expect then that move down will be some kind of wave 4 down with a final wave 5 up into early September for the completion of the Primary Wave 3 up that started in 2011.
Once we end Primary Wave 3 up we’ll see a 200-400 point drop for Primary Wave 4 down… which I think will happen in the September to November time frame. Then we start Primary Wave 5 up that takes us into 2017 for some insane blowoff top of 30,000 DOW or more.
After that we have about a 3 year crash bigger then 1929… but that’s a long way off yet.
P.S. I took a 20% long position into tomorrow and Friday as I think we’ll see 2000 by this Friday. We’ll see I guess…
Red, This is the democratic mid-term election and they are scared to death for losing seats. They will push this market ever higher. So that the Liar-in-chief can look you in the eyes and show you how awesome the market is doing. But we know its only an illusion of wealth for the Sheeple.
We have very high odds of going higher tomorrow I’m afraid. I took a small long position as I’m expecting a run up to that 2000 hear soon.
77 close….? maybe lol
Well gang, obviously we’ve made a new high and broken through that chart I posted before the open. At this point I’m in cash and won’t take any position until I see what happens at the close. If we do not sell off any at all then we have probably put in the low and are on our way up to 2020 SPX into next week.
The pattern it will make will of course be a bull flag and from the looks of the technical’s in the charts there is clear signs of this market wanting to turn back up on the larger time frame like the daily chart. While it could fool us and drop lower we really haven’t experienced too many fakeouts in the past related to the bulls.
On the other hand they seems to always fakeout the bears with selloffs that get bought right back up erasing all the gains the bears may have gotten. So I’m leaning bullish if we hold these gains into the close. A selloff into the close will put me back into a neutral “wait and see” mode.
Before the bell update: http://screencast.com/t/Gy3nIw4gybDG
Hmmm… Tuesday, July 22nd, 2014 is 0+7+2+2+2+0+1+4=18… and 1+8=9 (or if you leave the 22 as a whole you get 0+7+[22]+2+0+1+4=36… and 3+6=9 still). Completion of a move Tuesday?
I exited my shorts today for .60 cents as I’m not sure about Tuesday? The rally back up was more then I’d expected. So I’m flat going into tomorrow and would look to short it if it gaps up to just below the prior high of 197.91 SPY.
Should it gap down then I will have missed the move as it will certainly cost more to buy back my position. I could have sold for close to .90 cents (not sure exactly how much it was?) near the 196.50 area low. But I held on because I was expecting a weak wave 2 up (with the gap down being the wave 1).
So I missed a lot of profit on that one but you can’t know everything I guess. I bought the position Friday for .50 cents so I’m happy with the profit I did take. In the event of a gap down I may or may not re-enter the short position. It will depend on how high the quick morning gap fill rally back up takes us? If it’s the wave 3 down I’m expecting then that quick move back up in the first 10 minutes should be shallow and brief.
Meaning I might not get a good entry and would have to pay more for the same put spread. I’ll have too think on it before re-entering as I’m still kicking myself for not selling at the 197.50 SPY support area. Selling is my hardest thing to master…. LOL!
Thanks for stopping by Shanky. I think we have one more move down tomorrow morning and then the rally back up should resume.