I'm sure we will go down and test that bottom… and break it, but not in the next few days. Light volume rules right now, and there isn't any big institutions selling yet. They are waiting for a higher level… where? I don't know?
I'd love to see a big sell off tomorrow and into Friday, but it's highly unlikely. Remember, I've been short for a week now and just took it up the wazoo on the BS rally. But, you can't win them all… unless you are God (I mean Goldman Sachs).
The gist of this chart is that V shaped bottoms are really really rare. Odds are we retest the recent low and break it; putting in a more rounded bottom.
I have a friend that tells me… I'm sure you can figure it out who, but I won't say. And yes, we could pull back a little tomorrow, but the bulls are in control now, and I think they will go to 110.34 before a decent pullback
I'm sure we will go down and test that bottom… and break it, but not in the next few days. Light volume rules right now, and there isn't any big institutions selling yet. They are waiting for a higher level… where? I don't know?
I'd love to see a big sell off tomorrow and into Friday, but it's highly unlikely. Remember, I've been short for a week now and just took it up the wazoo on the BS rally. But, you can't win them all… unless you are God (I mean Goldman Sachs).
Here's something from Cobra's site:
http://stockcharts.com/def/servlet/Favorites.CS…
The gist of this chart is that V shaped bottoms are really really rare. Odds are we retest the recent low and break it; putting in a more rounded bottom.
I have a friend that tells me… I'm sure you can figure it out who, but I won't say. And yes, we could pull back a little tomorrow, but the bulls are in control now, and I think they will go to 110.34 before a decent pullback
In the mid-late 90's, the dollar index ramped way higher than it is now, equities peaked. Oil was $12-$20 per barrel. It's possible.
Short term, we look overbought to me, especially in leading indexes like $RUT. Where are you getting your current pain info from?
Thanks Earl. I feel so much better!
Monica,
It isn't so.
Another down day in a row is statistically unlikely.
I'm holding a smelly pile of TZA overnight.
All signs point to a down day tomorrow.
TZA can't possible go down tomorrow (for the market).
Better?
Earl, say it isn't so!
If he is predicting the impossible, I can only surmise that he doesn't mean for them to all happen at the same time.
eARL, this Carl Futia guy says we're headed to 1200 but
oil is going to 50
gold 875
silver 10.00
1200 would be mathematically impossible