Red

Selling some 3x inverse etfs at these levels. Buying some 2x etfs inverse. Just re balancing portfolio. My bias is still for a down market

http://content.screencast.com/users/Annamall2/folders/Jing/media/1ece56e7-038c-44ec-814e-b6e00567abb8/00000420.png
eerily similar MF in pink above JEF

ty for the like 🙂

http://www.youtube.com/watch?feature=player_embedded&v=kV9fizKE0EI

Yeah, me too was expecting a spike-up toward the 200-day SMA… Very strange.

I’m not liking the fact that they didn’t have some exhaustion move up to squeeze out the last bear.  Maybe this is the start of wave 3 down, or maybe it’s a trap… with one more squeeze back up to take out today’s new bears.  I’m not sure yet… so I’m sitting on my hands right now.

Good Morning gang…

I was really hoping for a gap up this morning to get short at, but it doesn’t look like we are going to get it now.   But, the good news is that the market appears to be rolling over now.  While I’m not 100% sure they won’t turn this back up into the close and squeeze out the bears that go short today, I do still firmly believe we are very close to ending this wave 2 up and starting wave 3 down.  Next week is going to be very ugly.

wow

I would be surprised if they bothered taking it up this morning.  Why bother, they trapped a ton of longs, and few bears have any meat left on them.

ES at Golden ratio: http://niftychartsandpatterns.blogspot.com/2011/11/es-at-golden-ratio.html