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
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
TZA closed down 5.1% today.
Volume today for TNA was the lowest of the last 21 days.
Today was the first day of the New Moon Trade.
[ After one day, this trade is DOWN 5.1% ]
RVX (VIX for RUT) moved generally down all day after the first 30 minutes or so, closing 2.1% lower.
TZA has now been down five days in a row.
Overall, it looks like TZA might fall again on Tuesday.