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BUY, BUY, BUY, NO, NO, NO - The top is in


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#11 Dex

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Posted 07 June 2014 - 05:19 PM

I know what it takes to be a technician and where to learn to be a guru.

I forgive you for you no not what you're talking about.

Fib


No apologies necessary.

It wasn't an apology.

At least you're consistent.

Fib


You make it too easy sometimes.
"The secret of life is honesty and fair dealing. If you can fake that, you've got it made. "
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#12 robo

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Posted 07 June 2014 - 05:22 PM

The top is in!



I have NO IDEA when the top will be in, but my main tools (not all) for trading the stock market are RSI levels/daily cycle counts and sentiment. I'm a Contrarian trader and my system is very simple,
but the daily cycle count for the S&P is getting stretched, sentiment trader has the long term number at 70, and the daily RSI number is currently 73.25 so I'm scaling in and buying HDGE for a trade.
I don't know if it will be a winner, but the tools I use says it's time to keep adding small bites of HDGE for now and not be long stocks. I'm Day-trading the gold miners, and all my 401k's and retirement accounts are in Stable Value funds.

Good luck to both Bulls and Bears next week, and I'm not in the crash camp, but my tools say a pull-back is close.

“There is only one side to the stock market; and it is not the bull side or the bear side, but the right side”   Jesse L. Livermore


#13 arbman

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Posted 07 June 2014 - 05:24 PM

You make it too easy sometimes.


Well don't be so hard on yourself.

#14 opinionated

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Posted 07 June 2014 - 08:47 PM

Fib and Don are very talented Technicians, And if most were more humble here we could and would learn a lot from them and others. Just as Dozens have thumbed there nose and left over the years because of the same thing. Fib has been saying up, and Don has been saying to the Moon... But hey people!!! Do you see where we are? 1950 and a week ago everyone was calling for 1700. What is it so hard to give respect when its due? You may not like the messenger but shut up and listen to the message! Amazing

#15 gm_general

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Posted 07 June 2014 - 11:42 PM

Carnage under the bullish stampede

#16 fib_1618

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Posted 08 June 2014 - 04:27 AM

Carnage under the bullish stampede

The Wolf who cries tops on a daily basis. :)

One day, like his ilk, he will be right...but this is not that time.

Fib

Better to ignore me than abhor me.

“Wise men don't need advice. Fools won't take it” - Benjamin Franklin

 

"Beware of false knowledge; it is more dangerous than ignorance" - George Bernard Shaw

 

Demagogue: A leader who makes use of popular prejudices, false claims and promises in order to gain power.

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#17 Data

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Posted 08 June 2014 - 09:49 AM

Don't usually see an article on a host website that chastises many of its contributors and followers.


Doom & Gloom Sells

#18 fib_1618

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Posted 08 June 2014 - 01:06 PM

Don't usually see an article on a host website that chastises many of its contributors and followers.
Doom & Gloom Sells

Elliott 3rd waves include the general acknowledgement that the fundamentals do indeed support current stock price valuations.

This also may be a good time to review the Elliott Wave psychology primer that I wrote 11 years ago given the relentless stock market advance of the last 18 months.

Fib

Better to ignore me than abhor me.

“Wise men don't need advice. Fools won't take it” - Benjamin Franklin

 

"Beware of false knowledge; it is more dangerous than ignorance" - George Bernard Shaw

 

Demagogue: A leader who makes use of popular prejudices, false claims and promises in order to gain power.

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#19 Data

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Posted 08 June 2014 - 01:14 PM

The fundamentals don't support market prices. That's why the central banks of the three largest economies are doing what they're doing. They fear a reversion in market prices if the central bank bid is pulled. Notice what happened after the BOJ stopped QE in 1998 and 2006. They will probably stop after the current fiscal year. We'll see what happens when the US and Japan yield to the ECB program.

Edited by Data, 08 June 2014 - 01:15 PM.


#20 fib_1618

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Posted 08 June 2014 - 01:46 PM

The fundamentals don't support market prices.

Yet...it's a process depending on the degree of trend.

In this case, people like Don believe that this is a 3rd wave of Primary degree which is that of years and not months as Intermediate degree would be.

Fib

Better to ignore me than abhor me.

“Wise men don't need advice. Fools won't take it” - Benjamin Franklin

 

"Beware of false knowledge; it is more dangerous than ignorance" - George Bernard Shaw

 

Demagogue: A leader who makes use of popular prejudices, false claims and promises in order to gain power.

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