Important Friday Update...
(to watch on youtube: http://www.youtube.com/watch?v=EFwUDSUm2BI )
My Twitter and Facebook accounts are (should this happen again?)...
(to watch on youtube: http://www.youtube.com/watch?v=Mbi8r4_iUC8 )
Tic Toc, Tic Toc... the end of Primary Wave 2 up is almost here!
The last year has been extremely painful for the bears, but I believe it's final over. While I was fortunate enough to have a friend share the DIA print with me and the readers here on the blog back in May of 2010, I wasn't wise enough to just go long until it was hit.
Instead I shorted mostly, with little success. Yes, I'm still alive... and that says a lot in of itself! Many bears died on this bull train ride, paid for by the American taxpayers. But now the ride is almost over, as the last stop for the bulls is coming up next week.
After that, the train heads straight south... toward hell. All the excessive eating the bulls did (leveraging their long positions, and using margin) is going to make them too fat to exit through the doors on the train, leaving them to get eaten by the hungry bears on board.
Yes, as it was foretold to us, so it shall be. The train ride down will look like the rollercoaster ride from Hershey, PA called Storm Runner... which doesn't look like it made for those with a weak stomach!
Needless to say, this isn't a ride the bulls will like. Yes, it will end ugly as the bulls must take their turn in the slaughter house too... and there's a ton more bulls then bears, meaning the blood will run deeper!
So, for all those traders and forecasters calling for 13,000 on the Dow, I have some Viceroy tulip bulbs for the discounted price of $1,250 each to sell you! Yes, they are original tulip bulbs from the 16th century Dutch country land... one of the kind (LOL). How many do you want?
(to watch on youtube: http://www.youtube.com/watch?v=zCPnOha57lM)
For the short term, the 60 minute chart is showing the possibility of a gap up on Monday, with a continued run higher... probably to about the 1280-1290 spx area, hitting or slightly piercing the upper trendline in this rising wedge (better known as the slow ride up on the rollercoaster).
It's hard to say the exact target, but I do expect the DIA print to be hit while the SPX is somewhere around that 1280-1290 area. Remember, there are only 30 stocks in the Dow and 500 in the SPX... so the correlation between them isn't an exact science. Just watch the DIA on Monday for your short entry.
Call this move up an "exhaustion gap" and/or "bear stop sweep"... as both are appropriate. Keep your eye's open for more FP's as I expect to see them on the way down (Note: there is a thousand people a day that reads this blog. That's a thousand pair of eyes watching). Your input and help is asked by me and the other readers, so let's all work together as a team... OK?
I'm also expecting for Wikileaks to release something damaging shortly, as "some news event" needs to be the blame for the sell off coming. Of course it doesn't have to be Wikileaks, but there will be some "planned" news released to jump start the selling.
While I'm speculating on this, I think we could go down to the 106 spy FP for Major Wave One, taking about 2-3 weeks or so to hit. Then a move up for a week or so, into the Legatus Pilgrimage time period of February 3rd-5th, 2011. After that Major Wave Two bounce (and after the meeting is over), I expect Major Wave Three down, (inside Primary Wave Three... aka P3!) to be the move down to the Dow 8300 (SPX 885) area.
It's possibly that the Wikileaks news could be released then, and something else released this week for the first wave down. Since we don't know how damaging the data is that Wikileaks claims to have... if it's really bad, then "they" might save it for the end of the Legatus Pilgrimage and the start of Major Wave 3 of P3!
Again, all just speculation... but it would line up nicely with elliottwave charts too. So wake up Bears! Hibernation is OVER! It's time to party like it's 1999 again! Go mortgage your house, buy all the "shorts" you can, and just default on you house payment later... everyone else is! (Just kidding).
P.S. I just heard that Congresswoman Gabrielle Giffords was shot. This is an obvious attempt by the gangsters to put down a good person. I ask that everyone support this woman, and send your prayers her way. If anyone can find out how to support her financially, please let me know and I'll put up a link to her site or paypal link here on the blog.
P.S.S. Since the gangsters don't like her... I love her! My new bumper sticker will say "Gabrielle Giffords for President". God be with her please...