I'll wait to see where it goes Monica. I will make that decision when I cross that road. It could go sideways tomorrow, and then fall on Thursday. We'll see tomorrow. I'll post it if it's time to bail.
Opex is next week, and there are way way way too many people holding puts. Forgetting about manipulation or geopolitical events, the expected behavior of the market is to cause the most pain, and I think the market will do what it can to shake people out of their puts.
Now, “news” and “events” are the big wildcards here. What made me the most suspicious today is the “lack of reversal” after the German govt denied the imminent Greek bailout.
Should we get to 1100ish, we're setting up a monster inverse head and shoulders pattern that could play out to new highs. (Just like in November!).
RED, I ADMIRE THE WAY YOU LISTEN TO OTHERS WHO ARE OPPOSED TO YOUR SHORT SIDE, RESPOND TO THEM WITH FACTS AND CHARTS, AND NOT WAVER FROM YOUR STANCE.I HAVE A QUESTION, ASSUMING YOUR RIGHT, WHY WOULD THE PPT ALLOW THIS MARKET TO CASCADE.THEY SEEM TO FIRE IN BUY PROGRAMS TO PREVENT SUCH AN EVENT.TONIGHT ON FAST MONEY, WHEN RICHARD RUSSELL ,WHO HAS BEEN AROUND FOR 50 YEARS, SAID THE DOW COULD FALL 3000 POINTS,THE PANEL QUICKLY STATED THE PPT WOULD NEVER LET THAT HAPPEN.I AM WITH YOU ON THE SHORT SIDE,BUT ITS TOUGH TO FIGHT A PRINTING PRESS WITH UNLIMITED INK AND PAPER.
Actually Monica, I think most people think that the 10% correct is now done, and we're going back up to 1300 or something. I feel like I'm the only bear left right now.
Well, the TA's are still bearish. That's why I'm still short. If we have something like a terrorist attack on Thursday, you know the market will crash.
I don't want that too happen, but Ayatollah Ali Khamenei is threating something?
I'll wait to see where it goes Monica. I will make that decision when I cross that road. It could go sideways tomorrow, and then fall on Thursday. We'll see tomorrow. I'll post it if it's time to bail.
I think he wants oil to go higher. Might be time to board a British ship and take hostages. Again.
Yeah, I totally know what you mean.
Opex is next week, and there are way way way too many people holding puts. Forgetting about manipulation or geopolitical events, the expected behavior of the market is to cause the most pain, and I think the market will do what it can to shake people out of their puts.
Now, “news” and “events” are the big wildcards here. What made me the most suspicious today is the “lack of reversal” after the German govt denied the imminent Greek bailout.
Should we get to 1100ish, we're setting up a monster inverse head and shoulders pattern that could play out to new highs. (Just like in November!).
I have a friend who is Iranian who is “in the know”. I just sent him that article to get his thoughts. I'll let you know if I hear back.
I feel like it's pretty mixed. But we shall see. If we happen to gap up in the morning substantially, what will you do?
RED, I ADMIRE THE WAY YOU LISTEN TO OTHERS WHO ARE OPPOSED TO YOUR SHORT SIDE, RESPOND TO THEM WITH FACTS AND CHARTS, AND NOT WAVER FROM YOUR STANCE.I HAVE A QUESTION, ASSUMING YOUR RIGHT, WHY WOULD THE PPT ALLOW THIS MARKET TO CASCADE.THEY SEEM TO FIRE IN BUY PROGRAMS TO PREVENT SUCH AN EVENT.TONIGHT ON FAST MONEY, WHEN RICHARD RUSSELL ,WHO HAS BEEN AROUND FOR 50 YEARS, SAID THE DOW COULD FALL 3000 POINTS,THE PANEL QUICKLY STATED THE PPT WOULD NEVER LET THAT HAPPEN.I AM WITH YOU ON THE SHORT SIDE,BUT ITS TOUGH TO FIGHT A PRINTING PRESS WITH UNLIMITED INK AND PAPER.
Actually Monica, I think most people think that the 10% correct is now done, and we're going back up to 1300 or something. I feel like I'm the only bear left right now.
Yes, but it wouldn't be the first time they tried to scare us. But with the market at a crossroads, maybe this time it will happen. Hope not though.
Look for something in news about Greece to cause this market to tank. Remain patience… I'm still short. This is not bullish.
Well, the TA's are still bearish. That's why I'm still short. If we have something like a terrorist attack on Thursday, you know the market will crash.
I don't want that too happen, but Ayatollah Ali Khamenei is threating something?