I know a lot of you are discouraged, but I urge you to stay the course. Yes, I made the mistake of going short too early instead of waiting for the FP of 127.07 SPY to be hit… but I’m staying short, as I firmly believe the top is in now.
Let’s examine the past for a moment. The last Legatus Pilgrimage was April 30th-May 2nd of 2011 (this year), and the top was in at the open on May the 2nd. This time it’s off a few days as this Euro bailout meeting was delayed, therefore delaying the top in the market. I think we are going to fall off a cliff next week and any bear not short will wish he was.
I don’t have any from 2009 or 2008 but they also were accurate. Use your own judgment here but I’m staying short. I feel a crash coming next week… possibly on November 2nd as forecasted by Karen Starich above. Leave your emotions out and just look at the past facts.
My Internet was down, now up and going. I will stay the course, with my shorts. I have no doublt in my mind, that the sp will be down between 80-120 minimum by this time next week. I hope to god that no one sells out at these artificial, manipulated levels from where red suggested getting in. I would rather be a day early than a few days late? Yes it sucks, that the market went a little higher than we anticipated. Do not let the big boys scare you out. Bradley model date of change is tomorrow . I am personally going to stay the course. Besides some selling of 2 timed inverse etfs and buying 3 times inverse etfs. If you are getting emotional about your shorts, go for a walk. Come back clear headed, than decide from a more grounded head space? All the best every one.
Ah-ha moment…the Fed’s devious plan is starting to make sense. Since sovereign CDS is worthless, and everyone in their right mind will be selling PIIGS debt, Operation Twist is starting to make sense. Where do people park their cash when they sell their crap debt? Into the 10yr T’s. So the Fed has screwed China and now is screwing Europe. I must say, nicely played.
It’s tough Johnny, as I hate being off on my forecasts. But, I’m hanging in there now, as I truely believe we have TOP now! The FP on the SPY of 127.07 has now been hit… next up is the new FP of 119 from yesterday.
Looks like the MMs have drawn the line at the 128 teeny mark. They don’t want to be paying out.
The bull boat…
http://1.bp.blogspot.com/_ZznyWJ7mCng/SONgM1h0ebI/AAAAAAAAAqU/KA5Sq5SuMz0/s400/P9300328.JPG
The bear boat…
http://3.bp.blogspot.com/-8KaV0JHzsK4/TmKoxqycxwI/AAAAAAAAAmg/GNhwGBIUals/s1600/empty+boat.jpg
Hell, the Nov’s are on SALE for 50% off after the criminals stole all the premium!
Thanks for joining me ACP… I was getting lonely on this side of the boat.
Bought some puts. God speed!
Gang,
I know a lot of you are discouraged, but I urge you to stay the course. Yes, I made the mistake of going short too early instead of waiting for the FP of 127.07 SPY to be hit… but I’m staying short, as I firmly believe the top is in now.
Let’s examine the past for a moment. The last Legatus Pilgrimage was April 30th-May 2nd of 2011 (this year), and the top was in at the open on May the 2nd. This time it’s off a few days as this Euro bailout meeting was delayed, therefore delaying the top in the market. I think we are going to fall off a cliff next week and any bear not short will wish he was.
Here’s more proof from 2010…
http://reddragonleo.com/wp-content/uploads/2010/01/97-point-misprint-on-SP-1024×684.jpg
… and here’s what happened afterwards
http://reddragonleo.com/wp-content/uploads/my-first-fp-showing-a-97-point-drop-on-the-spx-on-01-31-2010b.jpg
I don’t have any from 2009 or 2008 but they also were accurate. Use your own judgment here but I’m staying short. I feel a crash coming next week… possibly on November 2nd as forecasted by Karen Starich above. Leave your emotions out and just look at the past facts.
Sir Arthur will be proven correct.
My Internet was down, now up and going. I will stay the course, with my shorts. I have no doublt in my mind, that the sp will be down between 80-120 minimum by this time next week. I hope to god that no one sells out at these artificial, manipulated levels from where red suggested getting in. I would rather be a day early than a few days late? Yes it sucks, that the market went a little higher than we anticipated. Do not let the big boys scare you out. Bradley model date of change is tomorrow . I am personally going to stay the course. Besides some selling of 2 timed inverse etfs and buying 3 times inverse etfs. If you are getting emotional about your shorts, go for a walk. Come back clear headed, than decide from a more grounded head space? All the best every one.
Ah-ha moment…the Fed’s devious plan is starting to make sense. Since sovereign CDS is worthless, and everyone in their right mind will be selling PIIGS debt, Operation Twist is starting to make sense. Where do people park their cash when they sell their crap debt? Into the 10yr T’s. So the Fed has screwed China and now is screwing Europe. I must say, nicely played.
It’s tough Johnny, as I hate being off on my forecasts. But, I’m hanging in there now, as I truely believe we have TOP now! The FP on the SPY of 127.07 has now been hit… next up is the new FP of 119 from yesterday.