Wow… what great speak Obama made. I love how he's going to take $30 Billion Dollars that the banks paid back, and re-give it back to them… so they can give out more bonuses… errr, I mean give out more loans! Yeah… right!
He's a great speaker Monica… but so was Hitler! (Not saying he's Hitler… just saying he's good). I like how he's going to take 30 Billion of the money the banks paid back, and re-give it back to them to give out more bonuses… errrr, I mean loan out more money! Yeah, right!
I use photoshop to make it work. Not all pictures of course, but yes this one I used photoshop. You didn't really think you could find a picture of bush talking to obama… did you? LOL!
We hit an intra-day low of 1083… that might be close enough? So, we could have finished a smaller wave 4 up (inside of the larger wave 1 one down… from 1150-1083) on that pop higher to just under 1100.
If so, then the wave 5 down is finished too. That means that we could be starting the larger wave 2 up (from 1083 to ?… maybe 1120 area). This up move could last a week or more and chop around quite a bit.
So, your downside is severely limited right now. That's why I would get out and sit on the sidelines. If we're not finished with the wave 5 down move, then we could fall to 1080 tomorrow… but it's just not worth the risk (IMHO)
Thanks Red Dragon! Didn't go short today. Went short at the highs yesterday so I am OK. I will cover tomorrow. But my question is, you said to short after today's rally during the FOMC meeting. So, why now are you holding off and speculating that the market is going to 112? My issue is that everyone is speculating that it will go to 112. I don't think the market is that easy. The drop will catch us all off guard when we least expect it to. Yes, now we have oversold indicators but when there is a crash, all the indicators will be reading oversold. Anyway, it's not about pride or being stubborn. I am wrong a lot of time (including this time) and I admit it. But, that is why I am more fearful of trading in and out rather than just hanging tight. I think we all have to define our time frames and mine is longer term. Problem is I don't know how long I can take it going against me.
Monica… are you still short? Get out tomorrow on any pull back. We should have a dip at some point tomorrow. Probably to about 109.20-109.30 area. That's where we opened today.
I think they will take it up to about 112.00 over the next week, as I posted in my weekend update. You have too learn to sit on the sidelines if you miss the big move… which you miss by the way!
Don't be so stubborn! I've lost more money then I care to remember by hanging on and hoping. There will be a rally, and if you are still short… you will lose.
Would you rather get out with a small loss tomorrow, and wait for a week or so, to re-enter at 112.00, or almost all of it wishing?
Suck it up… throw pride out the window and take your loss like a professional! Stop trading like an Amateur! You're better then that. Plus you have many people like myself and Anna telling you and helping you along the way.
Get out! Sit on sidelines! Get back in when we finish rallying in about a week or so!
Well in all fairness, he said he would give the money to community banks, not investment banks. Still don't know how feasible that one is.
Just try and count all of the $$ he committed to spend tonight. The printing press will be going non-stop!
Wow… what great speak Obama made. I love how he's going to take $30 Billion Dollars that the banks paid back, and re-give it back to them… so they can give out more bonuses… errr, I mean give out more loans! Yeah… right!
He's a great speaker Monica… but so was Hitler! (Not saying he's Hitler… just saying he's good). I like how he's going to take 30 Billion of the money the banks paid back, and re-give it back to them to give out more bonuses… errrr, I mean loan out more money! Yeah, right!
Like the explanation – thanks Red. Watching State of the Union address. Anyway, whatever you think of him, he is a motivating speaker.
I use photoshop to make it work. Not all pictures of course, but yes this one I used photoshop. You didn't really think you could find a picture of bush talking to obama… did you? LOL!
Do you photoshop your own photos or was that actually online somewhere
Monica,
We hit an intra-day low of 1083… that might be close enough? So, we could have finished a smaller wave 4 up (inside of the larger wave 1 one down… from 1150-1083) on that pop higher to just under 1100.
If so, then the wave 5 down is finished too. That means that we could be starting the larger wave 2 up (from 1083 to ?… maybe 1120 area). This up move could last a week or more and chop around quite a bit.
So, your downside is severely limited right now. That's why I would get out and sit on the sidelines. If we're not finished with the wave 5 down move, then we could fall to 1080 tomorrow… but it's just not worth the risk (IMHO)
Red
Thanks Red Dragon! Didn't go short today. Went short at the highs yesterday so I am OK. I will cover tomorrow. But my question is, you said to short after today's rally during the FOMC meeting. So, why now are you holding off and speculating that the market is going to 112? My issue is that everyone is speculating that it will go to 112. I don't think the market is that easy. The drop will catch us all off guard when we least expect it to. Yes, now we have oversold indicators but when there is a crash, all the indicators will be reading oversold. Anyway, it's not about pride or being stubborn. I am wrong a lot of time (including this time) and I admit it. But, that is why I am more fearful of trading in and out rather than just hanging tight. I think we all have to define our time frames and mine is longer term. Problem is I don't know how long I can take it going against me.
Monica… are you still short? Get out tomorrow on any pull back. We should have a dip at some point tomorrow. Probably to about 109.20-109.30 area. That's where we opened today.
I think they will take it up to about 112.00 over the next week, as I posted in my weekend update. You have too learn to sit on the sidelines if you miss the big move… which you miss by the way!
Don't be so stubborn! I've lost more money then I care to remember by hanging on and hoping. There will be a rally, and if you are still short… you will lose.
Would you rather get out with a small loss tomorrow, and wait for a week or so, to re-enter at 112.00, or almost all of it wishing?
Suck it up… throw pride out the window and take your loss like a professional! Stop trading like an Amateur! You're better then that. Plus you have many people like myself and Anna telling you and helping you along the way.
Get out! Sit on sidelines! Get back in when we finish rallying in about a week or so!
Red