Are you psychic? because I just finished looking at WFC, in depth. If I use our dear Red's method of counting waves…
I get.. wave 4 bottoms at 25.6 – 26.2, then goes higher to 29.4. This week. Overnight charts sort of confirm this, and GS's paid partners in crime, WSJ and CBS MW, moved WFC target price higher to an average of $34. That's 10 freaking, percents higher. It's also the 200 day regression top line. I wouldn't say short WFC at 29.4, but I'm going to. small position. JPM, I'll look later.
SKF, seems to be putting in a sustainable base at 19.5, and wants to go to 21.5, it's 50 day. I'd be short banks, SKF at 19.5 The most upside for RKH, that I can see, is 80.95 for next week.
Hi Red, I found you a good reference point to short bank stocks. RKH's 200 day is 80. In the current environment, Spain, Europe, weak US data, deflation in gold…I'd short RKH at 80. stop is 1.2% or 81. Simple enough stop.
Thanks Red, excellent summary as usual! You know that Gerald Celente predicted a terrorist event this summer of 2010, which may be the catalyst to trigger such a large crash in DOW? Perhaps next week we get a shocking wiki leaks video to set up retaliatory response from the middle east, or maybe a major bank goes bust or just more bad news from the gulf? I do not know, but any intelligent financial economist will tell you this is a depression, and it’s not if, but when the next crash occurs. One must remain vigilant and prepared in these times, so I thank you for your blog site. Best regards and have a great weekend!
Yep… I think the weekly chart is the key right now. If it shows any signs of rolling over then the market is toast. But right now it's still pointing up, so the medium term trend is cloudy right now.
When the daily rolls over, if the weekly follows, then it's down we go, but if the weekly continues higher, then it's just a pull back before moving higher.
Are you psychic? because I just finished looking at WFC, in depth.
If I use our dear Red's method of counting waves…
I get.. wave 4 bottoms at 25.6 – 26.2, then goes higher to 29.4. This week.
Overnight charts sort of confirm this, and GS's paid partners in crime, WSJ and CBS MW, moved WFC target price higher to an average of $34. That's 10 freaking, percents higher. It's also the 200 day regression top line.
I wouldn't say short WFC at 29.4, but I'm going to. small position.
JPM, I'll look later.
Z
what about JPM, WFC
I've also posted in the recent past, I wouldn't be surprised if BAC tested 12.5.
CAH long, 30.75, still has some more downside left, before it's a buy, imo.
http://zstock7.com/wp-content/uploads/2010/07/c…
SKF, seems to be putting in a sustainable base at 19.5, and wants to go to 21.5, it's 50 day.
I'd be short banks, SKF at 19.5
The most upside for RKH, that I can see, is 80.95 for next week.
Hi Red, I found you a good reference point to short bank stocks.
RKH's 200 day is 80. In the current environment, Spain, Europe, weak US data, deflation in gold…I'd short RKH at 80. stop is 1.2% or 81. Simple enough stop.
You're welcome my friend…
I haven't seen an new video's by Gerald Celente lately, but if you find one, be sure to post it.
Thanks Red, excellent summary as usual! You know that Gerald Celente predicted a terrorist event this summer of 2010, which may be the catalyst to trigger such a large crash in DOW? Perhaps next week we get a shocking wiki leaks video to set up retaliatory response from the middle east, or maybe a major bank goes bust or just more bad news from the gulf? I do not know, but any intelligent financial economist will tell you this is a depression, and it’s not if, but when the next crash occurs. One must remain vigilant and prepared in these times, so I thank you for your blog site. Best regards and have a great weekend!
Weekend Update is up now…
Yep… I think the weekly chart is the key right now. If it shows any signs of rolling over then the market is toast. But right now it's still pointing up, so the medium term trend is cloudy right now.
When the daily rolls over, if the weekly follows, then it's down we go, but if the weekly continues higher, then it's just a pull back before moving higher.