Thar she blows! This market has cracked, and we've broken out of the tight range. I am expecting us to get to 1180 by next week. It is going to get ugly as the fears of European contagion take over, however irrational they are. The markets can be irrational in the short term, and will have temper tantrums, until it gets what it wants: more money printing.
Missed the short opportunity, unfortunately. I will wait patiently for the time to get long, we are far from that opportunity.
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8 comments:
Could be a downside fake break as everyone looking at the triangle. It is real we should lose several hundred dow points ideally today... otherwise we might just rip higher
Market flat would you short here?
just watch european bonds.
Heading to 1175 by next week. Tomorrow should consolidate the past 2 days down move.
I love this. Not because I'm short. I'm not. I'm losing $
I love it just because all I've heard these past few weeks is SEASONALITY SEASONALITY ..where going to 1300!!! pundits.
And I'm not referring to owl. He's probably one of the few who was cautious.
When the majority starts mentioning positive seasonality/end of year rally, run for the hills. Fundamentals are running totally counter to seasonality as the world slows down. We'll probably get that end of year rally, after the bulls throw in the towel over the next 2 weeks.
Why are people scared to get short... probably means still early days in the move down
Europe is going to detonate any day now, so for anyone wanting to get short, but hopes the market will wait for them will be left behind. If the market bounces tomorrow, there is your gift.
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