i agree with atilla – crash monday – perhaps event driven by something over the weekend… risk is to the downside….i also think we sell off hard into the close – as this will put the short term charts well into oversold territory. crashes tend to happen from oversold charts will play out – i think we should be looking for violent moves to the downside, rather than the last 22 months of failed bearish moves turned bullish….. the market is sick and fraud ridden and liqiudity dry…..there has been NO new money that has come into the market since july of ’10. It has been driven up on margin debt….this is a positive feedback loop once margin calls are made in an environment where everyone is running for the exits at the same time… (just thinking out loud)
Gang, Atilla has a great track record for calling tops and bottoms, but he’s a little bit more longer term then me. I try to catch the intraday moves as well.
With that said, we very well could crash on Monday to 1150-1200 as Atilla mentioned on his blog today. But, I still think we will go up some first, to put in a “wave 2 up”. Then once that is completed, either by the EOD today, or midday Monday, a wave 3 down should follow. It will be ugly!
So, if you are already short, I’d stay that way! If we go back up to retest that blue trendline (in the video) then so be it… but the way afterwards will destroy the bulls.
However, if we simply trade sideways to slightly up, then we could have another leg down into the close today? Hard too say, but one thing is for sure… “The Bears Are Back In Town”
I send some monopoly money! Let me call my buddy Ben to see if he’ll print me some more.
I kinda agree with RED….I really don’t think the free-fall begins for another week or so…
My analysis posted yesterday
http://kbsctrading.blogspot.com/2011/01/jan-27-2101next-14-dayssymmetryfractals.html
yeah gold,
i believe red said he was gonna give a CHECK for $500 bucks to the 500th comment — “AIN”T THAT RIGHT RED???”
Who has 500 comments? I clicked on your handle and you have 7,581 comments?
thanks red.
you didn’t fall into the sky is falling trap.
best things for all is. “have a plan(s)”.
500th comment.
do I get a prize!?
Let’s hope there are enough margin calls to keep the downward momentum going……
cool, thanks red!!
i agree with atilla – crash monday – perhaps event driven by something over the weekend… risk is to the downside….i also think we sell off hard into the close – as this will put the short term charts well into oversold territory. crashes tend to happen from oversold charts will play out – i think we should be looking for violent moves to the downside, rather than the last 22 months of failed bearish moves turned bullish….. the market is sick and fraud ridden and liqiudity dry…..there has been NO new money that has come into the market since july of ’10. It has been driven up on margin debt….this is a positive feedback loop once margin calls are made in an environment where everyone is running for the exits at the same time… (just thinking out loud)
Gang, Atilla has a great track record for calling tops and bottoms, but he’s a little bit more longer term then me. I try to catch the intraday moves as well.
With that said, we very well could crash on Monday to 1150-1200 as Atilla mentioned on his blog today. But, I still think we will go up some first, to put in a “wave 2 up”. Then once that is completed, either by the EOD today, or midday Monday, a wave 3 down should follow. It will be ugly!
So, if you are already short, I’d stay that way! If we go back up to retest that blue trendline (in the video) then so be it… but the way afterwards will destroy the bulls.
However, if we simply trade sideways to slightly up, then we could have another leg down into the close today? Hard too say, but one thing is for sure… “The Bears Are Back In Town”
Anybody have $27 billion lying around to keep Jamie Dimon in check the last 15 minutes of trading?