Sunday, October 19, 2014

Eerie similarity between the 2007 top and now

Posting this chart again, just to drive the point home.

A false break of the 200 DMA, followed by one last high ...

2007 top and today

My daughter and I saw two river otters out in Puget Sound on our walk this morning.  Then I went completely Hobbesian on a couple of Seattle idiots whose filthy unleashed dogs came over to visit us.

"Oh, but they're nice dogs."

And yet I will kill your dog if it bites my kid.  Right here on the beach.

This sort of primordial psychotic intensity scares the living hell out of your average passive-aggressive New York Times-home-delivery wussy Seattle people.  It's great fun, it should be a sport, really.

14 comments:

Bryan Franco said...

Also, the first major trendline break is usually a fake. Gosh, i hope we dont putz around for months. Just get it over with already.

Bicycle said...

Bull pennant on teh Dow 5 day?

Puts us within earshot of new ATH on the Dow if it is valid. The Futes blowing out tonight would be a break north of the pennant in the morning and we should fly up there pretty quick...

Ebola 21 day monitoring period is over for anyone in contact with the dead Liberian and gas is slumming under 3 bucks now. Bulls don't know how they be, but they do...

Putin is waiting like Frank Thomas on a fastball with the wind blowing out at Comiskey right up at Dow 17400. "Cold War" is about to get a much more literal meaning. For Europeans, anyways.

Christian Gustafson said...

Swinging away like Ron Kittle ...

We are agreed on the need to get it over. McHugh has a "major" phi mate turn coming up -- his newsletter readers know when -- so maybe that will work.

I hope we don't have to wait until the 11/20 "major" Bradley turn window.

Bicycle said...

Ron Kittle... now they don't make ball players like that any more. Wasn't that guy a steelworker in Gary before the Sox signed him?? Now it appears he is MadMaxing shit in his back yard!!!

Bicycle said...

Oh yeah, here's some more "progress" from last week.

Phat Repat said...

Having quite some difficulty moving to the 1894.81 level to reach that buy point. However, once through that, it should move on to T1, currently at 1933.18.

Interestingly, the next set of numbers starting to form after this level is 1994.83. Hmmmm... But let's not get too far ahead. ;-)

Christian Gustafson said...

Or we crash and fall apart, Phat.

I saw an interesting count over the weekend that had this as 1-2, 1-2.

i.e. the 150 pt leg from 1970 down to 1820 was just another nested wave 1 ahead of something devastating.

Christian Gustafson said...

There is a school of thought out there that when we reach the point of realization, this thing crashes so fast and furiously that even the most ardent bears are left watching, jaws agape.

See the Jim Chanos post on ZeroHedge about the real meaning of systemic risk.

Phat Repat said...

CG; it is certainly possible. I have my stops if that were to happen, though if violent, I would be taken to the woodshed on my modest position. :-)

As you know, until the first hour passes there really isn't much direction (unless it were a substantial move). And to me, not being a day trader, the last hour is the most important. ;-)

And look at that, as I type. Now let's see if it can confirm.

Christian Gustafson said...

ZOMG you moved the markets!

Phat Repat said...

Darn I'm good. lol

Now let's get some confirmation. ;-)

Bicycle said...
This comment has been removed by the author.
Bryan Franco said...

Cg your v bottomish h-s pattern appears to be breaking out now. Hopefully doesnt trap here.

Phat Repat said...

Numbers shifted slightly, but if we can maintain above 1895.50, then I would feel comfortable about continuation. And I would likely add to my long position; but won't make a decision until 3'ish.