Hi Red, Nice Blog 🙂 Careful with Mr. Topstep These vids are produced by optionsmonstertv (optionmonster.com) Ever heard of John and Pete Najarian? They are a couple of the Fast Money pimps on CNBC. Good Luck here and keep it up!
I'm thinking that will be about right too. By the end of the week we should have hit the high, and next week will start the selloff.
The high could be hit Wednesday or Thursday… I'm not sure which, but there should be some selling on Friday, as the big boys know what's coming next week.
Yeah… your right about Mr. Topstep. I use other methods as my primary reason to believe the market is heading lower soon. Mr. Topstep is just agreeing with what the charts already say.
I'm not going to base my entire decision on what Mr. Topstep or the guys at optionmonster say only. But, a lot of other technical analysis is now inline with that 1108 area as the major “line in the sand”.
Hi Red, Nice Blog 🙂 Careful with Mr. Topstep These vids are produced by optionsmonstertv (optionsmonster.com) Ever heard of John and Pete Najarian? They are a couple of the Fast Money pimps on CNBC. Good Luck here and keep it up!
Discount stocks won't be here for awhile… at least not long term. If you are talking about short term swings then the 1070 spx mark could be the support level before the finally rally up to 1108.
Fujisan made a nice post over at http://www.slopeofhope.com. She has a little higher target then I have, but at the end of her post, (called “Three Peaks and Domed House”), she also has 1070 as a possible short term bottom on Monday or Tuesday of next week.
After that bottom the rally to 1108 should begin. The first hit at 1108 will be mega resistance. It should NOT get through on the first hit. That means a sell off should happen first.
100% agree! IMO, Obama care has nothing to do with helping people, it's to fulfill his goal of wealth redistribution. It will start out in financial distress like every other government run program. Then the call that little Jimmy needs better medical care will go out and the only way we can give it to him is take more away from the succesfull working people of America. The price we are going to pay for “Hope & Change” will be enormous!
I would feel even better if Obama would just resign and Ron Paul would take over. That health care bill is horrible, and it will do tremendous harm to everyone. He's not going to sign his family up on it, why should we have too?
I try to do my posts a little different then Tim or Mole's. They are really good at the TA charting, which is very helpful in trying to figure out where we are going.
On the other hand, I just like to throw other things out there that seems to be affecting the markets also… and that is the “Manipulation Factor”. Knowing what the insiders are doing, with TA to back it up, makes for a more informed trader.
Hi Red,
Nice Blog 🙂
Careful with Mr. Topstep
These vids are produced by optionsmonstertv (optionmonster.com)
Ever heard of John and Pete Najarian? They are a couple of the Fast Money pimps on CNBC.
Good Luck here and keep it up!
Red and Jay,
EWZ started selling today. I don't know how long it takes us to follow the pattern.
I'm thinking that will be about right too. By the end of the week we should have hit the high, and next week will start the selloff.
The high could be hit Wednesday or Thursday… I'm not sure which, but there should be some selling on Friday, as the big boys know what's coming next week.
They don't want caught on the wrong side either…
Red
Yeah… your right about Mr. Topstep. I use other methods as my primary reason to believe the market is heading lower soon. Mr. Topstep is just agreeing with what the charts already say.
I'm not going to base my entire decision on what Mr. Topstep or the guys at optionmonster say only. But, a lot of other technical analysis is now inline with that 1108 area as the major “line in the sand”.
Red
Hi Red,
Nice Blog 🙂
Careful with Mr. Topstep
These vids are produced by optionsmonstertv (optionsmonster.com)
Ever heard of John and Pete Najarian? They are a couple of the Fast Money pimps on CNBC.
Good Luck here and keep it up!
HI REd,
PERFECT PIC
I just posted “” WHATS NEXT “”
the MKT will give it up on
OCTOBER 22, 23 & 26
Jay
nbg,
Discount stocks won't be here for awhile… at least not long term. If you are talking about short term swings then the 1070 spx mark could be the support level before the finally rally up to 1108.
Fujisan made a nice post over at http://www.slopeofhope.com. She has a little higher target then I have, but at the end of her post, (called “Three Peaks and Domed House”), she also has 1070 as a possible short term bottom on Monday or Tuesday of next week.
After that bottom the rally to 1108 should begin. The first hit at 1108 will be mega resistance. It should NOT get through on the first hit. That means a sell off should happen first.
Red
100% agree! IMO, Obama care has nothing to do with helping people, it's to fulfill his goal of wealth redistribution. It will start out in financial distress like every other government run program. Then the call that little Jimmy needs better medical care will go out and the only way we can give it to him is take more away from the succesfull working people of America. The price we are going to pay for “Hope & Change” will be enormous!
Jigsaw,
I would feel even better if Obama would just resign and Ron Paul would take over. That health care bill is horrible, and it will do tremendous harm to everyone. He's not going to sign his family up on it, why should we have too?
Red
Thanks, Steveo77…
I try to do my posts a little different then Tim or Mole's. They are really good at the TA charting, which is very helpful in trying to figure out where we are going.
On the other hand, I just like to throw other things out there that seems to be affecting the markets also… and that is the “Manipulation Factor”. Knowing what the insiders are doing, with TA to back it up, makes for a more informed trader.
Red