Ahhh, what is 15k anyways? Lol. I hate watching a meltup unfold. Do you think that FP that tt posted might mean anything? And what about all the recent FP’s showing Armageddon? There for some time in the future you think, or disinfo?
The only time to short when hitting a double top is on the first try… which was back on 2/28, and even that time only lasted a day. It didn’t rollover until 3 days later and only sold off about 30 spx points. You should know that the next time back up it will likely push through the resistance zone (1370 area)
No, the FP’s are only there to tell where the market is going to be on a certain day and time, and aren’t always a “turning point”. Sometimes they are, and sometimes they aren’t. It only means that they will take the market to that level at some point in the future. Trying to figure out if it’s going to turn there or not isn’t know to me. But since we are so overbought, I do think we are going to turn back down soon… like this week.
As I suspected, they broke through the resistance area and appear to be taking out stops right now. I think this is a blowoff top here going on and is designed to take out all the bears and load up the bull bus. I don’t think this will go much farther and I suspect we’ll see a “topping tail” pattern tomorrow on the daily chart (assuming they don’t sell this back down into the close today?)
Ahhh, what is 15k anyways? Lol. I hate watching a meltup unfold. Do you think that FP that tt posted might mean anything? And what about all the recent FP’s showing Armageddon? There for some time in the future you think, or disinfo?
The only time to short when hitting a double top is on the first try… which was back on 2/28, and even that time only lasted a day. It didn’t rollover until 3 days later and only sold off about 30 spx points. You should know that the next time back up it will likely push through the resistance zone (1370 area)
No, the FP’s are only there to tell where the market is going to be on a certain day and time, and aren’t always a “turning point”. Sometimes they are, and sometimes they aren’t. It only means that they will take the market to that level at some point in the future. Trying to figure out if it’s going to turn there or not isn’t know to me. But since we are so overbought, I do think we are going to turn back down soon… like this week.
Wow, haven’t taken a beating like this since brzv. That is two in a row. Argghh, not a way to enjoy a new year.
Actually, I am Canadian, its even worse for me. But thanks for trying to prop me up. Are the fake prints designed to trick us now?
Look at the dollar… still up!
Silver hour chart analysis: http://niftychartsandpatterns.blogspot.com/2012/03/silver-hour-chart-analysis_14.html
Wow, half decent new car driving out of my driveway right now.
As I suspected, they broke through the resistance area and appear to be taking out stops right now. I think this is a blowoff top here going on and is designed to take out all the bears and load up the bull bus. I don’t think this will go much farther and I suspect we’ll see a “topping tail” pattern tomorrow on the daily chart (assuming they don’t sell this back down into the close today?)
Now it’s up to 320 gangsters resigning…
http://americankabuki.blogspot.com.au/p/131-resignations-from-world-banks.html