Big Wet's Stock Talk 7-20-09

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Uploaded by on Jul 20, 2009

7-20-09 market analysis and chart analysis

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News & Politics

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  • 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...

    GL

  • you are so right it is not even funny, i like you style

  • 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.

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