Could see a that “pop and drop” tomorrow Friday the 18th… but don’t mistake the move down for something I’d short. It could only drop back to gap window over the next week around 1450 spx and then turn back up for a choppy wave 2 like April 11th, 2012 to May 1st, 2012 move was.
Then again, it could do something like the more recent chopfest triple top crap that happened between September 14th, 2012 to October 17th, 2012… better zone as the zone of death for bulls and bears alike. Good for day traders but hard to make an accurate trade for swing traders.
Not sure what to say here gang? The charts are massively overbought on almost all time frames. But the bulls won’t die it seems. I’m personally sitting to my plan and NOT trading this garbage. I’m only doing my penny stocks right now and will stay long in it for 2-3 more weeks… just in time for Legatus.
I’ll then move back into the market and short it hard. However, there are going to be more penny stock picks coming up throughout this year so I’ll also be doing them. It’s a whole lot less stress with them and I’m making great money with them too.
So, as for the market… again, I think we still have a 60% chance of putting in a high just below 1500 spx in the 1480-1490 area. That could happen tomorrow if we don’t rollover today. Then there is a 40% chance of a move to 10-20 points over 1500. However, with the way the market looks today I’m leaning toward 70/30 odds on not hitting 1500.
started a poistion in the VIX here at 13.25. Not alotta risk for a swing trade on that here, since I can;t watch the market much right now…happy trading
That’s the goal BK… kill all the stubborn bears. I’m the patient bear though and won’t touch a short until next month.
Hey Gang..long time no see.. how is everyone doing ? are the shorties still alive ? I think most shorts are dead or going to die soon.
btw I havent killed any bulls yet.. But I got rammed up the butt by one..
Could see a that “pop and drop” tomorrow Friday the 18th… but don’t mistake the move down for something I’d short. It could only drop back to gap window over the next week around 1450 spx and then turn back up for a choppy wave 2 like April 11th, 2012 to May 1st, 2012 move was.
Then again, it could do something like the more recent chopfest triple top crap that happened between September 14th, 2012 to October 17th, 2012… better zone as the zone of death for bulls and bears alike. Good for day traders but hard to make an accurate trade for swing traders.
Not sure what to say here gang? The charts are massively overbought on almost all time frames. But the bulls won’t die it seems. I’m personally sitting to my plan and NOT trading this garbage. I’m only doing my penny stocks right now and will stay long in it for 2-3 more weeks… just in time for Legatus.
I’ll then move back into the market and short it hard. However, there are going to be more penny stock picks coming up throughout this year so I’ll also be doing them. It’s a whole lot less stress with them and I’m making great money with them too.
So, as for the market… again, I think we still have a 60% chance of putting in a high just below 1500 spx in the 1480-1490 area. That could happen tomorrow if we don’t rollover today. Then there is a 40% chance of a move to 10-20 points over 1500. However, with the way the market looks today I’m leaning toward 70/30 odds on not hitting 1500.
Apple busted Descending triangle: http://niftychartsandpatterns.blogspot.in/2013/01/apple-busted-descending-triangle.html
GOOGLE Chart analysis: http://niftychartsandpatterns.blogspot.in/2013/01/google-chart-analysis.html
Rarely is there not a brief quick move higher to put in a “topping tail” and scare out the bears… so just be aware of that happening and don’t panic.
started a poistion in the VIX here at 13.25. Not alotta risk for a swing trade on that here, since I can;t watch the market much right now…happy trading
Not sure how accurate he is, but it’s possible that Apple rallies into Legatus, and then falls again.
Demark calls AAPL bottom: http://video.cnbc.com/gallery/?play=1&video=3000141314