While a “small correction” is possible rg64, I think it’s unlikely. What the Fed is doing right now is a final death sentence to the market. Buying your own debt is like eating your finger when there is no more food left.
Eventually, you will run out of fingers and toes to eat and starve to death. The market is now running out of body parts to eat, as there is no countries left to buy America’s debt… hence the reason the Fed is doing it.
In fact, the Fed now has more debt purchased through these POMO’s then any other country… including China. This is a death sentence for the market I believe.
While I’m confident that the market is going to the upside FP of DIA 118.16, I’m also confident that the market will hit the downside prints too.
The final bottom for these market has already been foretold to us… it’s SPY 20.16, a print that should take several years to hit… but it will be hit. Only then will a huge rally take place. When? I don’t know? For now I’m only waiting to get short once the upside print is hit.
So unless another higher FP is shown for the market, my bet is that the DIA FP is the final high for many years to come.
As for taking out the March lows, it might take all of next year and into 2012 to happen? I can’t answer that one. I’m just looking for one FP at a time to be hit.
So after the upside print is hit, I’ll be looking for 106 spy as the first major downside target. After that will be Dow 8300… but of course there will be bounces along the way. Just not any one that goes higher then DIA 118.16 I believe.
The upside for gold has already be given to us too… it’s 3500, but it must first sell off with the coming crash first. That target is 935, which may or may not be accurate? The upside print is accurate I believe, but I question the downside one. We’ll see I guess?
Good luck either way, as I’d like to see us all make money… both bulls and bears alike.
Wow… it’s 1:30 pm EST and the volume on the SPY is only 41 million. This is going to be one of the lightest trading days of the year (maybe tomorrow will be even lighter?).
Thanks for the email you sent on the 17th Dziemer, as I just checked my gmail account and seen it there. I rarely use it for email, as I only created it for the chat feature. Please use my main email address in the future, as I read it daily and always have it open.
From reading that report Richie, it seems quite clear that oil is likely to go higher. All they need now is a False Flag to spark another leg up… squeezing out any shorts current in it.
Holy cow Jigsaw… that Bull-Bear spread is off the charts! Amazing to say the least! When this thing goes south, it’s not going to be bull friendly… that’s for sure.
In the fractal chart, I would have to say that if we were currently on the gold standard (like back in 1929), the charts would probably overlay each other perfectly.
The lack of ability to print money out of thin air back in the Great Depression One is the only reason the spread is so large. Today, in the Great Depression Two, we have NO gold standard and can print enough Monopoly money to create the current “fake” rally that we have.
Looks like the big boys are selling into the dumb money.
12/22/2010 @ 16:00 hrs.
QQQQ: 559,000 shares bot @ 16:00 hrs. http://www.screencast.com/t/ViupSyxdycY
IWM: 700,000 shares bot @ 16:00 hrs. http://www.screencast.com/t/rkbWW6l7wF
It is a free market!
While a “small correction” is possible rg64, I think it’s unlikely. What the Fed is doing right now is a final death sentence to the market. Buying your own debt is like eating your finger when there is no more food left.
Eventually, you will run out of fingers and toes to eat and starve to death. The market is now running out of body parts to eat, as there is no countries left to buy America’s debt… hence the reason the Fed is doing it.
In fact, the Fed now has more debt purchased through these POMO’s then any other country… including China. This is a death sentence for the market I believe.
While I’m confident that the market is going to the upside FP of DIA 118.16, I’m also confident that the market will hit the downside prints too.
The final bottom for these market has already been foretold to us… it’s SPY 20.16, a print that should take several years to hit… but it will be hit. Only then will a huge rally take place. When? I don’t know? For now I’m only waiting to get short once the upside print is hit.
So unless another higher FP is shown for the market, my bet is that the DIA FP is the final high for many years to come.
As for taking out the March lows, it might take all of next year and into 2012 to happen? I can’t answer that one. I’m just looking for one FP at a time to be hit.
So after the upside print is hit, I’ll be looking for 106 spy as the first major downside target. After that will be Dow 8300… but of course there will be bounces along the way. Just not any one that goes higher then DIA 118.16 I believe.
The upside for gold has already be given to us too… it’s 3500, but it must first sell off with the coming crash first. That target is 935, which may or may not be accurate? The upside print is accurate I believe, but I question the downside one. We’ll see I guess?
Good luck either way, as I’d like to see us all make money… both bulls and bears alike.
Wow… it’s 1:30 pm EST and the volume on the SPY is only 41 million. This is going to be one of the lightest trading days of the year (maybe tomorrow will be even lighter?).
SPY CHART
http://niftychartsandpatterns.blogspot.com/2010/12/spy-5-minutes-chart.html
Thanks for the email you sent on the 17th Dziemer, as I just checked my gmail account and seen it there. I rarely use it for email, as I only created it for the chat feature. Please use my main email address in the future, as I read it daily and always have it open.
It is of course… Red (at) RedDragonLeo (dot) com
Nice read Dziemer… It goes back to prove that all presidents are picked and not freely elected. Thanks…
Oldie but Goodie
The First Time I Heard Of Barack:
http://www.rense.com/general84/brck.htm
From reading that report Richie, it seems quite clear that oil is likely to go higher. All they need now is a False Flag to spark another leg up… squeezing out any shorts current in it.
Holy cow Jigsaw… that Bull-Bear spread is off the charts! Amazing to say the least! When this thing goes south, it’s not going to be bull friendly… that’s for sure.
In the fractal chart, I would have to say that if we were currently on the gold standard (like back in 1929), the charts would probably overlay each other perfectly.
The lack of ability to print money out of thin air back in the Great Depression One is the only reason the spread is so large. Today, in the Great Depression Two, we have NO gold standard and can print enough Monopoly money to create the current “fake” rally that we have.
This wouldn’t have been possible back then…