Tomorrow should be a “pause” day… either slightly negative or slightly positive. Thursday is unknown at this point, but Friday will be the “big one”, and I plan to go short before 10am and see what happens. There could be a “fakeout” move to the upside, but I don’t want to chance that… as we could just start tanking and never look back.
Yup, I’m almost all in cash right now because for the next 2 1/2 days it’s just fun & games for the machines. I wouldn’t be able to keep up with all the BS.
Well, I’m not going heavily short until Friday morning before he speaks, so it doesn’t bother me if they run it up 3 day in a row, as it will just drop that much further when no QE3 is announced.
I’m thinking the bots will create a white soldier rally to get everyone on board and then finally tank to break the Aug 9 lows after The Madman speaks.
Tomorrow should be a “pause” day… either slightly negative or slightly positive. Thursday is unknown at this point, but Friday will be the “big one”, and I plan to go short before 10am and see what happens. There could be a “fakeout” move to the upside, but I don’t want to chance that… as we could just start tanking and never look back.
Yup, I’m almost all in cash right now because for the next 2 1/2 days it’s just fun & games for the machines. I wouldn’t be able to keep up with all the BS.
Well, I’m not going heavily short until Friday morning before he speaks, so it doesn’t bother me if they run it up 3 day in a row, as it will just drop that much further when no QE3 is announced.
I’m thinking the bots will create a white soldier rally to get everyone on board and then finally tank to break the Aug 9 lows after The Madman speaks.
Possibly so, I will consult the ole harmonic calibrator just before, thanks.
SPX Analysis after closing bell: http://niftychartsandpatterns.blogspot.com/2011/08/s-500-analysis-after-closing-bell_24.html
i think XLE will play out this way.
http://zstock7.com/wp-content/uploads/2011/08/XLE-8-23.jpg
i can see the qqq support at 51.2, before heading to the next leg higher—looking at a possible 54.4
Japanese guy discovered, it, but the irony of it all does not escape me.
Gold is going to take back off again to the upside Friday after Bernanke speaks… I’d bail on those shorts before then if I was you.