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i'm not complain' about today but it's time for ...


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#1 humble1

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Posted 11 February 2009 - 04:10 PM

:redbull: and i think it will! spx 822 was a higher floor (the Concrete Floor ™ ) than 813 and 804 and that is a real positive. the late turn after a slighly lower daily low than yesterday was brave, considering the ugly (consensus 600,000+) new claims expected before tomorrow's open. and, yes, it does look a bit like 21 cds ago, 1/20-1/21. the up day was not nearly as strong but as scarlett o'hara said: "i'll think about that tomorrow." B) ™ p.s. the H1 ewave count has not been invalidated. comments?

#2 pdx5

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Posted 11 February 2009 - 04:21 PM

Where did I read that "in bull markets strong daily declines are followed by smaller but numerous advances" and the opposite is true in bear markets. Might be just colloquial heresy.
"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule

#3 thespookyone

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Posted 11 February 2009 - 04:43 PM

Price is king, so true. At what SPX price will you know you are wrong?

#4 humble1

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Posted 11 February 2009 - 04:58 PM

pdx5: i think we'll get a gap up tomorrow: one of those kinds that nav likes, one that gaps above the previous day's range. :redbull: p.s. spooky, i'll get have to get back to you on that some day, but for now i think it very unlikely spx 422 (sic) will be violated.

#5 Taz

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Posted 11 February 2009 - 06:29 PM

Our market here in OZ taking off rather nicely this morning. Lends credence to my view a flat terminated at yesterday morning's lows. I am looking for a retest of the Jan highs by February 18-19. By extension I am bullish on US markets. P.S longer-term I am bearish looking for another 20% downside minimum and 50% maximum but only after a very nice bear market rally into May.

#6 Rogerdodger

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Posted 11 February 2009 - 07:55 PM

Who's gonna give the crisis speech tomorrow? <_<
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Jeeze.

#7 thespookyone

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Posted 11 February 2009 - 09:07 PM

"p.s. spooky, i'll get have to get back to you on that some day, but for now i think it very unlikely spx 422 (sic) will be violated. "


I agree. 650 SPX will probably hold. I'll be trading the bull side then-wonder if you will?

Edited by TTHQ Staff, 12 February 2009 - 09:07 AM.


#8 zigzag

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Posted 11 February 2009 - 10:07 PM

Who's gonna give the crisis speech tomorrow? <_<
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Jeeze.


:lol: :lol: :lol:
Wait a minute.
That's not funny.
:lol: :lol: :lol:
ur too much RD

#9 pivot

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Posted 11 February 2009 - 10:14 PM

just fyi, if market is corrective up into Friday then bulls will get slaughtered next week as cit is 17th (monday is a holiday)

#10 pdx5

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Posted 12 February 2009 - 12:46 AM

Our market here in OZ taking off rather nicely this morning. Lends credence to my view a flat terminated at yesterday morning's lows. I am looking for a retest of the Jan highs by February 18-19.

By extension I am bullish on US markets.

P.S longer-term I am bearish looking for another 20% downside minimum and 50% maximum but only after a very nice bear market rally into May.


My thinking parallels yours pretty close.
"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule