We should visit it one last time before the bottom falls out again. The short-trade into Thanksgiving should be legendary.
 |
| S&P 500 daily |
All of this was made possible by the stick-save in the final minute of session trading on Friday. Did you notice it?
 |
| Saved! no crash Monday |
27 comments:
Houses aren't selling here in Seattle, WA, and $AMZN common is now in a bear.
This is how RRE completely DIES overnight. Send in those keys, bag-holders.
If we see what you have laid out in the charts I will be backing up the truck to load up on the short side. Unfortunately, everyone and their mother wants that pattern to happen so they can sell. We need some good news to trick folks into believing the bottom is in. THAT would make me happy.
Kevin, if I understand it correctly, the goal of a wave 2 is that it should look sharp and impulsive enough to keep longs in the game, thinking we'll be back at new highs before long.
At the moment, all the long money above 2900 is stranded, either already out with a loss, or looking for a reasonable exit.
Employment data this week, and corps will be back buying stock with debt again.
~18 TDs down, ~9 TDs back up in wave 2, then it's decision time.
Also, please watch this Black Pigeon Speaks.
I tell you, the Donald John Trump understands all of this. He knows where we are headed. Andy Jackson portrait behind his desk for a reason.
Greets to Crystal Ball Forum peeps showing up in my traffic logs.
Trumps criticism of the Fed is nothing but cover. What he knows is that we're headed into a bear market, and the Fed will need to intervene if it starts getting out of hand. The relationship between the Fed and this POTUS is no less cozy than the last. I hope you're right and I'm wrong. We'll know soon enough.
Still looking for a bounce?
Of course.
Rogue B wave today. B of 2 for now.
Are we going to see a bounce here first?
https://stockcharts.com/freecharts/gallery.html?$BPSPX
Too far down too fast
We really need to end the Fed, they're responsible for all of this instability. Ron Paul had it right all along. Because of that, this is a generational chance to stock up on defensive companies like Hormel Foods Corporation, (NYSE:HRL) at compelling prices.
First let's get to 1360 on the S&P. Then let me convert profits to actual money and you can end the Fed.
The dive from 2706 high (LOL, right after I dumped my SPY calls) back to 2604 was in 3 waves. If it doesn't make a lower-low, we have a candidate for an expanded flat, i.e. it was B down of 2 up.
C of 2 up can still retest the rally channel @2820 next week.
"Because of that, this is a generational chance to stock up on defensive companies like Hormel Foods Corporation" There are also consumer staple ETF's/funds that are packed with "boring" stocks that Wall Street loves to hate. Check out VDC.
An End to Anchor babies that Trump is signing should be worth 50 Spoos Easy to the Upside.
Another dead cat.
Today is not a dead cat. We have legs. Just watch. Up the rest of the week
Hugh's gone full nihilist. Even the Nazis had an ethos.
I think we'll scrape our way back up to the obvious overhead channel resistance, poke a probe candle through, and keep going.
Gone nihilist? I've BEEN a nihilist! Even Nietzsche couldn't save me. I'm the one who told you about Mr. Mean Spirited, and if I remember right used to post here under the name Reverend Nihilism.
Hugh, here are a couple of good pieces on the China mess.
Confirmed nihilist Bicycle sent them over the transom.
Total vindication
Squeeeeeeze as we break over the OR for this (presumed) 5th wave down.
Ideally we gap-up open at 2722 on squeezed shorts, and sell off all day as the Fed drains the balance-sheet swamp.
We could sell off all the way back to 2660 and still retest the line we just broke, as support. That low would then be a superb long entry. Plus, tomorrow is an opex ...
Yes of course. This
Nihilism is a perfectly rational response to this clown world. I've long been a critic of our increasingly cozy relationship with China.
FB cuckerberg shit the bed. We need 2450
"The new social media site I’m working on will run completely independent of hosting companies, ad networks and payment providers. It’s decentralized, by the people for the people. Volunteer moderators will work together to keep it free of scams and crimes. Free speech guaranteed." - Kim Dotcom
I'm skeptical.
Shortwave radio the future.
Back to the Bill Cooper days!
Post a Comment