Only in Alex's world is a 30 minute rally off a trendline bounce a bull market. LOL! We are in a pennant right now with lower highs and higher lows. Could break either way, or just keep limping along sideways. Who knows. With Europe still hanging over everything it's hard for me to see the people who are on the sidelines piling in though.
Alex, six days ago you were predicting the market would drop, and it did. Lower highs since. Now it seems you're back in the bull camp. Frankly, I'm slow and it's hard for me to keep up with your shifting positions.
TVIX is a small position for me. Kind of a lottery ticket in case volatility spikes. But as of last week I am, overall, more short than I've been in a long time. We'll see, but it sure looks like to me like a topping pattern and a series of lower highs.
Oh, and BTW, weren't many of the up days recently also on low volume?
for most of the day the DOW was down 230
points give or take a few, no surprise
we rallied? Imo! the market is so beaten
down with no hope for recovery I still
think/hope/want it to go Higher.
and we will over time.
good board, smart folks,
Good fortune to all
Guessing the crazy rumor was trumped a few minutes later by the reality of this:
All the rumors that come out at 3:30 aren't necessarily good especially when they aren't rumors but facts.
Retraction? Now you're strategy is to use vague terms that can be interpreted either way later to show you were right? ;)
My Chart is showing an outside reversal day for IWM. Couple that with 4 other reversals this week and my unambiguous prediction for a gap down in the a.m. creating an island reversal, and that can't be good for the market. Is there a type of reversal that we haven't seen this week yet?
What happened to that rally and close higher prediction you made this a.m.? LOL!