We will brake triangle to the downside either today or tomorrow. And 50-100 S&P point sell off will follow. Bulls are hopeful now, but in a few hours this hope will turn into fear and possibly panic. 1370 needs to be taken out on a closing basis in order to reverse the psychology. I don't see it. People are depressed right now.
Denleo
We will brake triangle to the downside
Started by
denleo
, Feb 21 2008 12:24 PM
17 replies to this topic
#2
hiker
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independent trader
Posted 21 February 2008 - 12:27 PM
"never trust a bull or bear" opinion
opinion is not knowledge
no one knows the future
#3
mike123
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Posted 21 February 2008 - 12:29 PM
You don't get depressed if you are short.
#4
mss
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I'M WATCHING
Posted 21 February 2008 - 12:33 PM
Well this has been the story before Feb. started and unless the upper or lower bands are broken this is where it will stay.
http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=0&mn=1&dy=0&i=p49880648108&a=109886073&r=1384.png
OK, problem. had to go back in at edit to add any more comments.
Before we could click the curser under the right lower corner and it would move up and over to add notes OR another chart.
mss
Edited by mss, 21 February 2008 - 12:37 PM.
WOMEN & CATS WILL DO AS THEY PLEASE, AND MEN & DOGS SHOULD GET USED TO THE IDEA.
A DOG ALWAYS OFFERS UNCONDITIONAL LOVE. CATS HAVE TO THINK ABOUT IT!!
A DOG ALWAYS OFFERS UNCONDITIONAL LOVE. CATS HAVE TO THINK ABOUT IT!!
#5
IndexTrader
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Posted 21 February 2008 - 12:49 PM
"never trust a bull or bear" opinion
opinion is not knowledge
no one knows the future
When we make a trade by definition we're trading the future, about which you can only have an opinion. You control this by managing your money and managing your risk.
IT
#6
mss
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I'M WATCHING
Posted 21 February 2008 - 01:06 PM
Time was not up and it would not take my edit. The "please wait loading" kept going round and round.
http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=2&mn=0&dy=0&i=p64087590153&a=130267106&r=2959.png
WOMEN & CATS WILL DO AS THEY PLEASE, AND MEN & DOGS SHOULD GET USED TO THE IDEA.
A DOG ALWAYS OFFERS UNCONDITIONAL LOVE. CATS HAVE TO THINK ABOUT IT!!
A DOG ALWAYS OFFERS UNCONDITIONAL LOVE. CATS HAVE TO THINK ABOUT IT!!
#7
humble1
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Posted 21 February 2008 - 01:07 PM
this is IDEAL 4th wave action ! let me repeat: a triangle is IDEAL and CLASSIC ELLIOT wave fourth wave action !!!!!
you can "see this from across the room."
when it will be over, i dunno. but it could indeed be very soon.
Edited by humble1, 21 February 2008 - 01:09 PM.
#8
mike123
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Posted 21 February 2008 - 01:18 PM
this is IDEAL 4th wave action ! let me repeat: a triangle is IDEAL and CLASSIC ELLIOT wave fourth wave action !!!!!
you can "see this from across the room."
when it will be over, i dunno. but it could indeed be very soon.
Traders keep debating: ABC down? 5 wave down? Until the bottom falls out.
#9
denleo
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Posted 21 February 2008 - 01:20 PM
I trade my opinion. Come to think of it, that is what traders do -- they trade their opinions.
OK, so far we sold off 20 points. Another 15 or so to break the triangle. And another 50-100 after that. Not bad. Guys, it is not too late to participate.
By the way, tomorrow's gap down will not be a BUY.
Denleo
#10
ogm
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Posted 21 February 2008 - 01:34 PM
We will brake triangle to the downside either today or tomorrow. And 50-100 S&P point sell off will follow. Bulls are hopeful now, but in a few hours this hope will turn into fear and possibly panic. 1370 needs to be taken out on a closing basis in order to reverse the psychology. I don't see it. People are depressed right now.
Denleo
I agree.
Got some cash ready to buy the drop.
I smell the panic already.
Edited by ogm, 21 February 2008 - 01:37 PM.
