1063 was a big event closing above – seems like we have reach a short term bottom. We will see exited my shorts today – will watch. Hope your right red as I have no dog in fight right now. Did not wish to be a pig when down was down 130 or so points I bailed. A good 2 days have a good weeked
I waited all day for that bounce and didn't think it was coming. So, I got in at a lower price then it closed at, but I'll still be ok. I can't see anymore then 1080 tops on Monday, and then more selling. Hold on tight girl… it's the pop before the drop!
Red, Alternate count to keep in mind, but less probable, is that the move until today's low was wave v of (i). If this alternate count were to be true, a bigger counter trend move (ii) up to 1100 in S&P is possible, but unlikely. As you know Elliott waves can be interpreted many ways. I request you to address this possibility.
None of that matters. We're still going down next week! I don't bet the farm on just anything. This is the real deal! Don't listen to the boso's on TV. They are paid to be bullish. WE ARE GOING DOWN NEXT WEEK… Join me if you can.
My friendly suggestion is don't bet farm on short-term trades. If you place aggressive bets, have an exit strategy if market goes against you. You know this market is rigged daily. TrimTabs openly says that it does not know who the buyer was all these months pushing markets up. So, desperate buyers can influence markets short-term with bogus news and Ponzi schemes. People are buying stocks all these days knowing this ponzi game well. Everyone knows job numbers, GDP etc all are fake, yet people cheer those numbers by moving markets.
Yeah… short term, a day or two… maybe? I can't see any higher then 1080, and then back down. I'm a little early, but I'll be find. Glad to see that you will too. Just keep you ears to the news, as I'm thinking some big event will happen and scare the markets. No idea what, but it's just a feeling…
My trend indicators are in sell mode. I use systematic trading, not discretionary trading. Thus, no worry of being caught on the wrong side. I just think that the odds favour a rebounce here. It appears that a rebounce is very likely with 1040 being the bottom. If the market does turn up, I will have to go long, per trendfollowing rules.
I think you are being early for the P3. A word to the wise. If you are to bet the farm, then make sure you own more than just one farm. LOL
1063 was a big event closing above – seems like we have reach a short term bottom. We will see exited my shorts today – will watch. Hope your right red as I have no dog in fight right now. Did not wish to be a pig when down was down 130 or so points I bailed.
A good 2 days have a good weeked
rEd, nice post. I hope you are right.
I waited all day for that bounce and didn't think it was coming. So, I got in at a lower price then it closed at, but I'll still be ok. I can't see anymore then 1080 tops on Monday, and then more selling. Hold on tight girl… it's the pop before the drop!
Thanks Red – still holding even though my tail is in between my legs!
I'll put up some charts on my weekend post. For now, it's not looking likely that we rally up to 1100, but I'll know more by Sunday night.
Red,
Alternate count to keep in mind, but less probable, is that the move until today's low was wave v of (i). If this alternate count were to be true, a bigger counter trend move (ii) up to 1100 in S&P is possible, but unlikely. As you know Elliott waves can be interpreted many ways. I request you to address this possibility.
None of that matters. We're still going down next week! I don't bet the farm on just anything. This is the real deal! Don't listen to the boso's on TV. They are paid to be bullish. WE ARE GOING DOWN NEXT WEEK… Join me if you can.
Red,
Thanks again for your insights and blog.
My friendly suggestion is don't bet farm on short-term trades. If you place aggressive bets, have an exit strategy if market goes against you. You know this market is rigged daily. TrimTabs openly says that it does not know who the buyer was all these months pushing markets up. So, desperate buyers can influence markets short-term with bogus news and Ponzi schemes. People are buying stocks all these days knowing this ponzi game well. Everyone knows job numbers, GDP etc all are fake, yet people cheer those numbers by moving markets.
Yeah… short term, a day or two… maybe? I can't see any higher then 1080, and then back down. I'm a little early, but I'll be find. Glad to see that you will too. Just keep you ears to the news, as I'm thinking some big event will happen and scare the markets. No idea what, but it's just a feeling…
My trend indicators are in sell mode. I use systematic trading, not discretionary trading. Thus, no worry of being caught on the wrong side. I just think that the odds favour a rebounce here. It appears that a rebounce is very likely with 1040 being the bottom. If the market does turn up, I will have to go long, per trendfollowing rules.
I think you are being early for the P3. A word to the wise. If you are to bet the farm, then make sure you own more than just one farm. LOL