Kimble: Head & Shoulders topping pattern in the NDX 100 just got some help from Google???
Jeff Cooper: We are 300 months from ’87 crash. 300 ties to 9/14, this year’s high. Oct. ’07 = 55 months from March ’03 low. Next week = 55 weeks from Oct ’11 low.
The crash in both ’87 and ’29 were 55 days from high.
When they run for cover, GOOG could be a harbinger of what the sell-off will look like. Is the NDX commencing a 3 of 3 to the downside?
Looking at GLD I see over 20,000 calls bought today on the 190 strike price for the month of November. Then another 23,000 for the 200 strike price. Somethings not right here…. is somebody expecting a huge spike in gold?
I’m still going to wait until Monday the 22nd to decide. I might do it that day or wait until the morning of the 23rd. But WBS’s friend has me worried. I’m thinking of taking a “hedge” position long on gold (it should sell off if the market tanks) as if the October Surprise is a 40% dollar devaluation (Lindsey said that wasn’t happening this year though) then the loss of all my money on the SPY shorts would be recouped by the Gold longs.
The gold longs will be like Jan/Feb 2013 “calls” so they won’t get hit too hard if the market tanks. I’ll then bailout on them (with a small loss) and ride the SPY “puts” down. If the market explodes upwards in a massive “wave 3” like WBS states then the gold longs should make up for a my SPY shorts.
I won’t be making a bunch on the gold longs as I plan to be 2/3rd’s short on the market and only 1/3rd long gold. But it will protect me if I’m wrong on the call and WBS is right. It’s a play that will make me a bunch if we tank and keep me about even if we rally.
Just saw the SP at 1455.55 down 5+pts………….The Dax also opened the day before last at 7378 and sloshed around that 7387 to 7378 level for awhile……Got some updated stats for the Sanchito for later.
New post….
http://reddragonleo.com/2012/10/18/will-bernanke-raise-interest-rates-in-the-coming-october-23rd-2012-fomc/#disqus_thread
Kimble: Head & Shoulders topping pattern in the NDX 100 just got some help from Google???
Jeff Cooper: We are 300 months from ’87 crash. 300 ties to 9/14, this year’s high. Oct. ’07 = 55 months from March ’03 low. Next week = 55 weeks from Oct ’11 low.
The crash in both ’87 and ’29 were 55 days from high.
When they run for cover, GOOG could be a harbinger of what the sell-off will look like. Is the NDX commencing a 3 of 3 to the downside?
Dow down 6.6 pts. -.05%.
GOOG,
can I say more?
muwahahaha.
Looking at GLD I see over 20,000 calls bought today on the 190 strike price for the month of November. Then another 23,000 for the 200 strike price. Somethings not right here…. is somebody expecting a huge spike in gold?
I’m still going to wait until Monday the 22nd to decide. I might do it that day or wait until the morning of the 23rd. But WBS’s friend has me worried. I’m thinking of taking a “hedge” position long on gold (it should sell off if the market tanks) as if the October Surprise is a 40% dollar devaluation (Lindsey said that wasn’t happening this year though) then the loss of all my money on the SPY shorts would be recouped by the Gold longs.
The gold longs will be like Jan/Feb 2013 “calls” so they won’t get hit too hard if the market tanks. I’ll then bailout on them (with a small loss) and ride the SPY “puts” down. If the market explodes upwards in a massive “wave 3” like WBS states then the gold longs should make up for a my SPY shorts.
I won’t be making a bunch on the gold longs as I plan to be 2/3rd’s short on the market and only 1/3rd long gold. But it will protect me if I’m wrong on the call and WBS is right. It’s a play that will make me a bunch if we tank and keep me about even if we rally.
If you want to blow your mind on some supreme pessimism:
http://www.spiritoftruthblog.com
Even I can’t take too much of this site.
Just saw the SP at 1455.55 down 5+pts………….The Dax also opened the day before last at 7378 and sloshed around that 7387 to 7378 level for awhile……Got some updated stats for the Sanchito for later.
That’s when I planned on going short…. Makes me think about just shorting on the 19th just in case
That counts down to October 22nd… scary!