Red, I don't think we will have to worry about a move to 1120 or 1140 yet. Interesting link to earthquake prediction. Lot's of bad news “allowed' out this weekend. Oil spill, Israel “terrorist attack”. German president resigning, France credit issues. Seems like the end of the world is coming. . . . .
As I said in my video, I'm very bearish right now. I said that the market could gap up on Tuesday and run up to 1120 or 1140? At this point it's looking more like it's going to open down.
That means that we will likely sell until this Friday, and turn back up for a bounce on Friday and into next week. That's the turn date that website is talking about.
You still have to do TA's to see what direction you are going in when you are coming up to a turn date. If we rally into the turn date, then we would likely sell off at it.
But again, it's looking to me like we are going down until the turn date, then up. I seen one around June 3rd and the June 6th. That would be down into the 3rd, turn back up into the 6th, and then fall back down or trade sideways until the next turn date.
They are helpful, but I still lean toward TA's first… and if a turn date lines up with it, then it's just that much more likely to happen.
I am still not clear of how to use. The author's commentary refers to a turning point during last(this) weekend and then the graph shows the first peak in June 6th (another turning point). So, the markets go down until the 6th? or rally until then?
BTW the futures turned a bit negative. So, say, market goes down tomorrow. When is the best time to short? opening or later? usually the first hour is dangerous but if it gaps down it might stay down for the day….
I guess the art here would be to second guess the market. Say, it opens circa SPX 1095 on Monday. Thinking that such might be a fake, do we have the guts to short at such point? (say buy VXX at $27.75 or whereabouts?)
What if wrong?
Leo made a good point in his commentary that this is hard to judge whether a bull or a bear. And a sideways action must be the worst…maybe coiling for some big action.
I don't know guys and for some reason a sense of fear is prevailing..or is it just me?
I am really uneasy. What if they come up with a European package to combine all sovereign debt from member countries and then reissue EU bonds at a combined rate lower than constituent states (except for Germany of course whose low rates are exceptional):
Stochastics indicate that VIX is due for an intermediate correction, but it can set another new high even if STO is disintegrating. That's what I'm thinking will happen the next 2-3 days.
Anything bought at sub-1000 ought to be a winner, but I expect a twilight period after the plunge and immediate recovery, while the market is trying to make up its mind which way to go. Calls bought at the beginning of that period will be likely to lose value and/or expire, IMO.
This scenario is based on my reading of CPC and how the market reacted in '07 and '08, could be totally wrong.
Israeli commandos attacked a Palestinian humanitarian aid mission today, which bodes ill for Tuesday. Not to imply that world political events have anything to do with the stock market, or vice versa, of course.
Red, I don't think we will have to worry about a move to 1120 or 1140 yet. Interesting link to earthquake prediction. Lot's of bad news “allowed' out this weekend. Oil spill, Israel “terrorist attack”. German president resigning, France credit issues. Seems like the end of the world is coming. . . . .
As I said in my video, I'm very bearish right now. I said that the market could gap up on Tuesday and run up to 1120 or 1140? At this point it's looking more like it's going to open down.
That means that we will likely sell until this Friday, and turn back up for a bounce on Friday and into next week. That's the turn date that website is talking about.
You still have to do TA's to see what direction you are going in when you are coming up to a turn date. If we rally into the turn date, then we would likely sell off at it.
But again, it's looking to me like we are going down until the turn date, then up. I seen one around June 3rd and the June 6th. That would be down into the 3rd, turn back up into the 6th, and then fall back down or trade sideways until the next turn date.
They are helpful, but I still lean toward TA's first… and if a turn date lines up with it, then it's just that much more likely to happen.
I am still not clear of how to use. The author's commentary refers to a turning point during last(this) weekend and then the graph shows the first peak in June 6th (another turning point). So, the markets go down until the 6th? or rally until then?
BTW the futures turned a bit negative. So, say, market goes down tomorrow. When is the best time to short? opening or later? usually the first hour is dangerous but if it gaps down it might stay down for the day….
http://money.cnn.com/data/premarket/
Interesting…
I find that turn dates are very useful when combined with technical analysis too. Looks like they got the April high date pretty accurately.
Re: earthquakes
http://www.google.com/search?q=earthquakes&rls=…
Also, Red Dragon Leo what do you make of this? (just found it – not sure of how to interpret it):
http://spiraldates.com/
Earthquake watch is still in effect…
http://www.youtube.com/user/astrotometry#p/a/u/…
Last resort will be to nuke the oil well..Obama sends nuclear experts to tackle BP’s Gulf of Mexico oil leak..40,000-100,000 barrels a day not 5000!!
http://seeker401.wordpress.com/2010/05/27/last-…
It might go higher next week but I don't see conviction on the European front:
http://www.nytimes.com/2010/06/01/business/glob…
I guess the art here would be to second guess the market. Say, it opens circa SPX 1095 on Monday. Thinking that such might be a fake, do we have the guts to short at such point? (say buy VXX at $27.75 or whereabouts?)
What if wrong?
Leo made a good point in his commentary that this is hard to judge whether a bull or a bear. And a sideways action must be the worst…maybe coiling for some big action.
I don't know guys and for some reason a sense of fear is prevailing..or is it just me?
I am really uneasy. What if they come up with a European package to combine all sovereign debt from member countries and then reissue EU bonds at a combined rate lower than constituent states (except for Germany of course whose low rates are exceptional):
http://www.spiegel.de/international/europe/0,15…
Stochastics indicate that VIX is due for an intermediate correction, but it can set another new high even if STO is disintegrating. That's what I'm thinking will happen the next 2-3 days.
Anything bought at sub-1000 ought to be a winner, but I expect a twilight period after the plunge and immediate recovery, while the market is trying to make up its mind which way to go. Calls bought at the beginning of that period will be likely to lose value and/or expire, IMO.
This scenario is based on my reading of CPC and how the market reacted in '07 and '08, could be totally wrong.
Israeli commandos attacked a Palestinian humanitarian aid mission today, which bodes ill for Tuesday. Not to imply that world political events have anything to do with the stock market, or vice versa, of course.