New floor 2.95, but we are now on the way to 3.86.
Do you guys wonder how much Money, Money, Money I have made over the last few days?
My posts is only for educational purposes. Now watch and learn. ;)
I'm always interested in others opinions. and you are correct, nobody tells you when to sell. In my opinion, there are two very difficult tasks: knowing when to sell and having the conviction to average down when the market is tanking. I've been posting URE could correct 3.10 to 3.30. I just took a new position at 3.38 (small). I think we come in more from here. I feel URE will hit 6.00 sometime this year. I'm guessing the next leg up is around 4.12......what's your opinion?
W/ LLC. Hmm. Yes they are getting pricing power, because they have parked so many planes in the desert. Lower oil has also helped. However, the economy is still slowing so I am glad you made the money.
I would not be a buyer right now.
As you know, all of my targets have now been reached. The next question is where we are going from here? Now that 3.86 was reached on Friday, I am ready to reveal my next target. Who wants it? If three posters ask I will tell you all where I see us now going.
LONG TIME NO SEE MY FRIEND. I've been making money w/ LLC.. It kinda took me by surprise w/ their run up on the low volume. It's still holding pretty well, I think they'll post a loss, but it will beat the experts prediction.
How has everyone been? Again yes intpilot was correct. We arent at 3.86 yet but we will be soon. Took a little while to bounce off the 1.96 call I made but I hope you have all been trading and making the $. Again URE isnt the best place to put your money for fast money.
So, where do we go now: lending from the govt has produce a new problem. manufactored earnings. Its freaking great. Banks are making huge profits! They are going to continue to skyrocket. I own lots of them. Govt cant withdraw the help they gave the banks. Yes toxic assets are still a problem, however, the accting changes allow a workaround.
The big problem now is the egg on the face when BANKs continue this profit aking scam and people soon begin to ask why did they need a bailout?
Also holding very little trade on INTC earnings.
Now the things I hate about the so called experts is everyone gives you a price to buy at but nobody ever knows when to sell. When should you sell this rally? I will be unloading my long trades as we approach the 200 day MA's. We still have a nice profit margin to make be4.
Here's what I think:
We have hit resistance zones from 750 to 780. This is a much tougher slog. Many people trapped here will be more than happy to get out break even. So not only does the market have too "take" 750, it has to take 757, 765 and 775 and then 780 even before thinking about an assault on 800 again. After a massive rally, its gonna run out of some steam.
So any pullbacks may (should) eventually slip under 750. It then has to hold at support layers beneath 750. So goes the next few days, but then again isn't every trading day like this? Its a game of support resistance I think until we get clearer indications of where this market is truly headed. There are some things that bother me about the market, waves and such, but until we see how it handles the tougher resistance zones, there is no need to change my view in that a wave 5 to a new low will indeed occur.
Volume , either up or down is always a key. That tells the story.