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#1 NAV

NAV

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Posted 15 November 2017 - 10:15 AM

IT: Uptrend 
ST: Correction 
Position: Cash
 
Dip buyers got caught in a gap-down again. Bitten five times in a row...
 
The ST correction continues. This Opex might end up making lows, which should setup a good swing trade long post-opex.

"It's not the knowing that is difficult, but the doing"

 

“I have heard many men talk intelligently, even brilliantly, about something – only to see them proven powerless when it comes to acting on what they believe” - Bernard Baruch

 


#2 gameover

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Posted 15 November 2017 - 02:13 PM

The tide has changed.  Dip buying going to be hazardous to from here on

as most have been socially engineered the past 8 years.

 

Everyone seems to think the holiday rally is coming, but is it?  maybe, maybe not.

 

I see 2 scenarios:  1. a very short term low comes at some point friday or monday where the bounce is very small, then

BOOM, spx down to 2425-2450 or 2. no bounce next over holiday week and straight down to 2425-50

Either way, those levels will likely arrive soon for a short term washout.

then.....

a 2-3 month retrace of losses

before the s*** hits the fan

 

btw, now that buffett is loading up on aapl, the TOP is in.  how'd ibm work out?  exactly.