profit or loss is the reponsibility of the individual. All you can do is make the best call you know to make with the information you have – and i think it is pretty darn good.
the funny thing is this is so frustrating to the bears that the next dip we will see the btfd (buy the f*ckn dip) crowd come in – and they will buy each dip thereafter…… all we can do is wait…. i personally am underwater on the day, but i will wait it out and see what happens through the week.
This is not going to be a double top. We are headed higher. Unless the jobs report completely drops the ball, there’s not stopping the Fed and the all the free POMO money flowing in.
if you pull back to the daily on the spx, you can see how many times during the topping process we have seen that intial sell off, and then full retrace, and then second sell off and the then the cliff dive…so as you said many times in your videos, this time is no different…… it is real hard to toptick, and to be 100% during the topping process…. but this definitely looks like the topping process – divergence of indexes (see russell)…….. believe me, i am grinning and BEARING it!!! LOL
red,
profit or loss is the reponsibility of the individual. All you can do is make the best call you know to make with the information you have – and i think it is pretty darn good.
the funny thing is this is so frustrating to the bears that the next dip we will see the btfd (buy the f*ckn dip) crowd come in – and they will buy each dip thereafter…… all we can do is wait…. i personally am underwater on the day, but i will wait it out and see what happens through the week.
Only Q in my mind, is it April 20 or 29th, 2010 ?
This is not going to be a double top. We are headed higher. Unless the jobs report completely drops the ball, there’s not stopping the Fed and the all the free POMO money flowing in.
Thanks San… love your quick and simple charts.
Thanks Richie… I just hate making a bad call, and someone losing money because of it. I knew it would go up, but I never expected a double top.
ES Resistance line: http://niftychartsandpatterns.blogspot.com/2011/02/es-resistance-line.html
maybe red,
if you pull back to the daily on the spx, you can see how many times during the topping process we have seen that intial sell off, and then full retrace, and then second sell off and the then the cliff dive…so as you said many times in your videos, this time is no different…… it is real hard to toptick, and to be 100% during the topping process…. but this definitely looks like the topping process – divergence of indexes (see russell)…….. believe me, i am grinning and BEARING it!!! LOL
Never underestimate how dirty the gangsters play the game… that’s the lesson learned today!
Frustration and confusion is back on the gangsta’s menu …..
okay, then give me an inverted hammer today please. I’ll take two to go, with a confirmation on spx top.