Now you’re thinking like a gangster. When the market tanks to the 1068 FP on SPX and then recovers from QE3 (which I wouldn’t doubt will happen in the Feb. 2013 Legatus meeting), all the traders will think the worst is behind us.
They will think that the March 2009 low won’t be repeated and the 1068 low was it. The market will rally one more time into mid-summer of 2013 to put in a final high. It may be a “higher high”, or a “lower high” then the all-time high… but never the less, it will be the final high before a 4 year sell off starts.
not sure what will be said at jackson, but i’m going to guess a mixed message. That could chop us down to resistance at 1370. Then we start chopping back up higher right before/into legatus Crash hard after to 1065 up to Feburarys meeting where they unleash qe3
I’m not expecting a big move down in Silver. I’m only expecting a small pullback for awhile as I don’t think it can break through the resistance zone yet. Maybe it pulls back for a week or so… and then rallies up through it?
It really depends on what the overall market does. If we float down slowly to the 1370 spx support level over the coming weeks, then silver should float down slowly too. But like you said… nothing much is likely to happen until after Jackson Hole.
yeah. Don’t think we’ll see much until after Jackson Hole I guess that could go either way…. but to lift this market more then to how far we’ve already gone, 143 spy, would be nuts.. picked up a small slv put
Not worth trading right now Anthony… at least not options. Well, for that matter it’s probably not worth trading futures either. Maybe day traders, but not swing traders.
Now you’re thinking like a gangster. When the market tanks to the 1068 FP on SPX and then recovers from QE3 (which I wouldn’t doubt will happen in the Feb. 2013 Legatus meeting), all the traders will think the worst is behind us.
They will think that the March 2009 low won’t be repeated and the 1068 low was it. The market will rally one more time into mid-summer of 2013 to put in a final high. It may be a “higher high”, or a “lower high” then the all-time high… but never the less, it will be the final high before a 4 year sell off starts.
not sure what will be said at jackson, but i’m going to guess a mixed message. That could chop us down to resistance at 1370. Then we start chopping back up higher right before/into legatus Crash hard after to 1065 up to Feburarys meeting where they unleash qe3
yeah…more volatility with iwm
I’m not expecting a big move down in Silver. I’m only expecting a small pullback for awhile as I don’t think it can break through the resistance zone yet. Maybe it pulls back for a week or so… and then rallies up through it?
It really depends on what the overall market does. If we float down slowly to the 1370 spx support level over the coming weeks, then silver should float down slowly too. But like you said… nothing much is likely to happen until after Jackson Hole.
i’m surprised Fridays meeting isn’t on a ritual date
yeah. Don’t think we’ll see much until after Jackson Hole I guess that could go either way…. but to lift this market more then to how far we’ve already gone, 143 spy, would be nuts.. picked up a small slv put
Not worth trading right now Anthony… at least not options. Well, for that matter it’s probably not worth trading futures either. Maybe day traders, but not swing traders.
How true, how true… that guy is dead on in his video David.
getting frustrating. I can’t even remember the last time we had a decent down day
let me check it I can locate