Very soon now, maybe even tomorrow, Carl is going to call for a “reaction move” i.e. we're near the top of one of his big boxes/channels and need to retrace a bit. These moves are as large as 20 points.
I don't see us starting our big wave 3 down yet Monica. We need one more week of a choppy market to put in a nice bear flag on the week. Plus the month ends next week, and I think the big move will happen in the first week of March.
I'd really like to see 112.00-112.50 spy next week. Just stay out of the market for now. Don't lose anymore money. I'm not going to make that mistake again. That one really hurt.
We need to work off the daily rising MACD, which should go up and start to roll back down next week. Hang tough… no more big mistakes.
As for tomorrow, and Friday… the current pain is 108, but 109 is almost at the same level. So, I'd say they split the difference and close about 108.50 Friday. That assumes that the current pain is accurate?
I know it only takes into account the last 3-4 weeks of options activite, whereas the option pain includes everything from the time the option month was created. That could be up to 2 1/2 years ago. That's why it's free, and the current pain isn't.
We'll see for tomorrow. I think sundancer said that apple looked bearish for tomorrow, and I guess you heard about gold dropping afterhours because some country (I think?) said they were going to sell ton's of it.
Daneric also has the dollar starting a possible wave 3 of wave 3 up, so all things are looking like a pullback tomorrow.
Very soon now, maybe even tomorrow, Carl is going to call for a “reaction move” i.e. we're near the top of one of his big boxes/channels and need to retrace a bit. These moves are as large as 20 points.
It can go down 7 days in a row. While unlikely, $RUT could touch the upper bollinger band with a 2% move. It is possible, albeit unlikely.
In early September, $RUT had a 9/10 day up streak. The only down day was a doji, and that's because it crashed into the upper BB.
I'm hanging on to my small short position, with the expectation that the markets go down into op. ex.
I don't see us starting our big wave 3 down yet Monica. We need one more week of a choppy market to put in a nice bear flag on the week. Plus the month ends next week, and I think the big move will happen in the first week of March.
I'd really like to see 112.00-112.50 spy next week. Just stay out of the market for now. Don't lose anymore money. I'm not going to make that mistake again. That one really hurt.
We need to work off the daily rising MACD, which should go up and start to roll back down next week. Hang tough… no more big mistakes.
As for tomorrow, and Friday… the current pain is 108, but 109 is almost at the same level. So, I'd say they split the difference and close about 108.50 Friday. That assumes that the current pain is accurate?
I know it only takes into account the last 3-4 weeks of options activite, whereas the option pain includes everything from the time the option month was created. That could be up to 2 1/2 years ago. That's why it's free, and the current pain isn't.
We'll see for tomorrow. I think sundancer said that apple looked bearish for tomorrow, and I guess you heard about gold dropping afterhours because some country (I think?) said they were going to sell ton's of it.
Daneric also has the dollar starting a possible wave 3 of wave 3 up, so all things are looking like a pullback tomorrow.
If I were you I would listen to “chart pattern trader” that Red has on his blog list.
Now he's talkin “wave three”
“maybe a little more up” then down to 1030
http://www.thechartpatterntrader.com/index.php
Nothing makes sense! But those two usually go in opposite directions for whatever reason.
ha ha!
Yes, don't we all wish we could see the future?
agreed…. the rally is a bit stretched…
2010/2/17 Disqus <>
I can do that. I'll take my dog.
Walk around here without a dog, people think you're nuts.
I think we need to go out and howl at the moon tonight.