Glad to see everyone so calm. Enjoy because we are going into tank city in the next 2 weeks.
Everyone will say they did not see it coming. too bad for the kids and family. Your ego's are
going to get them hurt.
Wow, down to $70. Sure it's always good to get another opinion if you can take a look.
I know for a fact institutions are still in net distribution and there are some technical indicators on the cusp of a major move. Worse than 2008 is scary though.
First of all I am not in SPY in any way. I do like the board and Spy is also tiedn to the market. So that's why i'm here.
It is hard for me to determine what the DOW itself will do but have been charting DOG and it definately has bottomed and will be seeing 50's as a start but will look more closely as it moves upward.
As for stocks I am short they have major downside which I see going lower than they were in 2008.
As for SPY, didn;t study it in depth but see it at least in 70's at some point by quickly glance at it but can look at it further if you like
right, thanks for that. Still learning PNF.
Right now the objective is bearish but that could easily change if Ben gives the markets some less-than-vague idea that an agressive strategy (not QE3) is being implemented to avoid EU contagions and and fix housing. The market could bottom here, for real.
Trust me no one except a few unnamed trading desks are doing what I am doing.
If you had the system you wouldn't share it either. I'm just cutting you some slack
here because I know the little guys get the shaft. I was there one day myself. It gives
me a chance to square it before I meet my maker. Laugh if you want but we are going down.
At some point the 50 will turn when I don't know but it's fun to guess.