don't short the market now, wait untill you see strength in the US$, i believe THE reversal is near, but you don't wanna short the market when the US$ is dropping. we might see one more push before things will become ugly again... and today we might actually have some correction before another push higher, good luck fellow traders!
Man i've sucked this run up, doubtin' myself again, after makin' a run from -40% down to -20% down, I'm back to -30%...still holdin' all my shorts. At this point i'm not sure how much down side there will be, I don't think we're going to get our BIG down leg here, maybe to 925-935, then a run up to try and break 1000, but it won't, maybe even 999, and that will be it, from there I think it will grind down to the 700's, and in Dec, kiss you dollar value goodbye...
2 other things should remind us of previous speculation euphoric times, Intel issuing $1.5Bil worth of convertable TO BUY BACK STOCK! Remember the last top, assanine companies borrowed money for buybacks. Also- China market P/E is now 33.
Nice analysis. Have we extended beyond a test of the head of the head and shoulders pattern? Seems like. Doesn't mean it can't dip. But people might chase it.
Great video Big Wet. Futures are down pretty big at 8pm west coast time, and I have a good feeling tomorrow will be a pullback. I just don't want to see some crappy half percent down or even 1% down, we need 2-3% down across the board or even more!
see "A long wait forecast for..." by Cherwininski on financialsense.c** He shows the $SPX chart as an "opening channel" , like a reverse wedge, he says it's characteristic of a highly unstable formation, topping usually. fyi. fwiw.
don't short the market now, wait untill you see strength in the US$, i believe THE reversal is near, but you don't wanna short the market when the US$ is dropping. we might see one more push before things will become ugly again... and today we might actually have some correction before another push higher, good luck fellow traders!
xennevdl 2 years ago
Man i've sucked this run up, doubtin' myself again, after makin' a run from -40% down to -20% down, I'm back to -30%...still holdin' all my shorts. At this point i'm not sure how much down side there will be, I don't think we're going to get our BIG down leg here, maybe to 925-935, then a run up to try and break 1000, but it won't, maybe even 999, and that will be it, from there I think it will grind down to the 700's, and in Dec, kiss you dollar value goodbye...
GL
3dbeing 2 years ago
you are so right it is not even funny, i like you style
pfowler20 2 years ago
2 other things should remind us of previous speculation euphoric times, Intel issuing $1.5Bil worth of convertable TO BUY BACK STOCK! Remember the last top, assanine companies borrowed money for buybacks. Also- China market P/E is now 33.
irenderit 2 years ago
Nice analysis. Have we extended beyond a test of the head of the head and shoulders pattern? Seems like. Doesn't mean it can't dip. But people might chase it.
richardcameron 2 years ago
Great video Big Wet. Futures are down pretty big at 8pm west coast time, and I have a good feeling tomorrow will be a pullback. I just don't want to see some crappy half percent down or even 1% down, we need 2-3% down across the board or even more!
uckfayu 2 years ago
see "A long wait forecast for..." by Cherwininski on financialsense.c** He shows the $SPX chart as an "opening channel" , like a reverse wedge, he says it's characteristic of a highly unstable formation, topping usually. fyi. fwiw.
irenderit 2 years ago