LOL…. could have been but I never had anything to drink on Sunday. A few beers on Saturday though. If I’m wrong on my call I’ll just blame it on the beer and say I was still hungover. 🙂
Red. In most cases when you are about to place a trade when you are feeling sick or nauseated, the trade will usually go in the wrong direction on you. Your solar plex area of your body is the inner guidance, some times called the gut instinct in the business world. The X CEO Jack Welch of GE commented many times on honoring this feeling.
Last week, I was about to place a huge trade to go long. I believe it was last Wed or Thursday. I had to remove myself from the computer and walk around because I was feeling so nauseated. I realized their and than that my body was telling me to not make the trade. Sure enough, it was the correct decision as the market went down significantly from where I wanted to go long. In most cases for myself, I will get a small little nudge in my stomach area if I am about to make a incorrect trade.
But than again, it may have been some thing you drank or ate last night. LOL
In order for this move up to have high odds of failing we really needed to see it back off at the open and put in a topping tail. The longer it chops sideways the more bullish it becomes (as it will make a bull flag).
Just have to give it all day to see what happens I guess. The key time to watch is after the morning volume dries up… usually by 11am to noon. Then SkyNet will use the light volume period to move the market in the real direction that it’s programmed to take it to.
If it rallies more between noon and 2pm then I’d say that they plan to go up to 1400 before rolling back down. If we give back half or so if this rally then we could put in a topping tail on the daily chart and go down tomorrow.
It’s a tough call as this is a very bullish open and usually results in a bear squeeze. The question is… for how long? How many bears are in the market trapped from the 1340 low? Did they all exit and become bulls?
We could actually have more bulls long then bears short right now as I think a lot of people are expecting a big rally. We’ll, here it is… now what? Regardless, either a B wave down tomorrow should happen or a final 5th wave.
If we chop sideways all day tomorrow and don’t go down but a little then the bears are trapped and they will continue rallying in a C wave up on Wednesday or Friday. If we sell off nicely tomorrow then could be in a wave 4 up and 5 down will trap the bulls. Tough call either way.
Buy when fear is the highest and there’s blood in streets… sell when greed is high and grandma is giving out stock picks.
Worst case scenario here is that this is an A wave up and we only get a B wave down to put in a higher low then the 1340 low. We can then get out with a small gain or breakeven… depending on how high it goes up with this A wave.If we are right then this is a 4th wave up and we still have a 5th wave down to go… which should take out the 1340 low and make a new low in the 1310-1320 area.
just grateful i didn’t go short Friday
LOL…. could have been but I never had anything to drink on Sunday. A few beers on Saturday though. If I’m wrong on my call I’ll just blame it on the beer and say I was still hungover. 🙂
Red. In most cases when you are about to place a trade when you are feeling sick or nauseated, the trade will usually go in the wrong direction on you. Your solar plex area of your body is the inner guidance, some times called the gut instinct in the business world. The X CEO Jack Welch of GE commented many times on honoring this feeling.
Last week, I was about to place a huge trade to go long. I believe it was last Wed or Thursday. I had to remove myself from the computer and walk around because I was feeling so nauseated. I realized their and than that my body was telling me to not make the trade. Sure enough, it was the correct decision as the market went down significantly from where I wanted to go long. In most cases for myself, I will get a small little nudge in my stomach area if I am about to make a incorrect trade.
But than again, it may have been some thing you drank or ate last night. LOL
In order for this move up to have high odds of failing we really needed to see it back off at the open and put in a topping tail. The longer it chops sideways the more bullish it becomes (as it will make a bull flag).
Just have to give it all day to see what happens I guess. The key time to watch is after the morning volume dries up… usually by 11am to noon. Then SkyNet will use the light volume period to move the market in the real direction that it’s programmed to take it to.
If it rallies more between noon and 2pm then I’d say that they plan to go up to 1400 before rolling back down. If we give back half or so if this rally then we could put in a topping tail on the daily chart and go down tomorrow.
It’s a tough call as this is a very bullish open and usually results in a bear squeeze. The question is… for how long? How many bears are in the market trapped from the 1340 low? Did they all exit and become bulls?
We could actually have more bulls long then bears short right now as I think a lot of people are expecting a big rally. We’ll, here it is… now what? Regardless, either a B wave down tomorrow should happen or a final 5th wave.
If we chop sideways all day tomorrow and don’t go down but a little then the bears are trapped and they will continue rallying in a C wave up on Wednesday or Friday. If we sell off nicely tomorrow then could be in a wave 4 up and 5 down will trap the bulls. Tough call either way.
yeah, it’s not much higher then the open, so not too concerned yet
SPX resistance…
http://screencast.com/t/fvQXTvPiWof
Buy when fear is the highest and there’s blood in streets… sell when greed is high and grandma is giving out stock picks.
Worst case scenario here is that this is an A wave up and we only get a B wave down to put in a higher low then the 1340 low. We can then get out with a small gain or breakeven… depending on how high it goes up with this A wave.If we are right then this is a 4th wave up and we still have a 5th wave down to go… which should take out the 1340 low and make a new low in the 1310-1320 area.
But certainly not looking good for bears unfortunately
Same. They’re still a bargain, if we go as low as turbo says- and this is a short week as it is
By the way, I went out to the November 30th options instead of this Friday… just in case I need more time from being wrong.