Ok, I got the last call wrong, but thats trading. I got stopped for a modest loss.
I believe we are about to start heading down again.
Just imagine what the GDP figures will look like?!!!
Once again, all the bottom pickers around. i doubt the lows are in. We will see.
good shorting opportunity
Started by
Tor
, Oct 29 2008 07:42 AM
9 replies to this topic
#1
Tor
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Posted 29 October 2008 - 07:42 AM
Observer
The future is 90% present and 10% vision.
The future is 90% present and 10% vision.
#2
eminimee
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- TT Member
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I don't care who's fur is flying...
Posted 29 October 2008 - 07:49 AM
The bull and the bear of it...
Bull:
Looks like a W bottom ...over night ES tested the 8 ema and bounced hard, this is a 120 min all session ES
http://img100.images...eurod871oc0.png
ES 60 min all session...the bullish count where another high would complete a subdivided wave 3..
http://img514.images...eurod872ml0.png
Bear:
We can count A,B,1,2,3,4 with a 5 needed to complete C...then down
http://img100.images...eurod871oc0.png
I captured these charts earlier...they don't update...we have new highs ....now it's a question of are we topping a 3 of 5...or a C wave...TWT Globex high is 952.25...my work would look better with another high to complete any 5th...have resistance at 953 on the 120 min DAY session and 957 on the ALL session daily fwiw
Bull:
Looks like a W bottom ...over night ES tested the 8 ema and bounced hard, this is a 120 min all session ES
http://img100.images...eurod871oc0.png
ES 60 min all session...the bullish count where another high would complete a subdivided wave 3..
http://img514.images...eurod872ml0.png
Bear:
We can count A,B,1,2,3,4 with a 5 needed to complete C...then down
http://img100.images...eurod871oc0.png
I captured these charts earlier...they don't update...we have new highs ....now it's a question of are we topping a 3 of 5...or a C wave...TWT Globex high is 952.25...my work would look better with another high to complete any 5th...have resistance at 953 on the 120 min DAY session and 957 on the ALL session daily fwiw
Edited by Teaparty, 29 October 2008 - 07:51 AM.
#3
cgnx
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Posted 29 October 2008 - 07:53 AM
Most are missing this bottom. GDP is meaningless now. Nobody cares.
Very few believe this IS the Bottom. It may not be THE BOTTOM, but I think its going to be a huge one. No time to get in. BULL PANIC. Most will miss the boat. That is worse than anything.
Traders are very vulnerable in this type of market. Because the market doesnt revert to the mean. Traders sell for a pittance when they could have made a whole hog. Shame.
If it can be cornered, it will.
#4
eminimee
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- TT Member
- 14,307 posts
I don't care who's fur is flying...
Posted 29 October 2008 - 08:10 AM
Sorry..one of those charts was in the "bull" case and was duplicated..let me try that again
The bull and the bear of it...
Bull:
Looks like a W bottom ...over night ES tested the 8 ema and bounced hard, this is a 120 min all session ES
http://img204.images...eurod874pq1.png
ES 60 min all session...the bullish count where another high would complete a subdivided wave 3..
http://img514.images...eurod872ml0.png
Bear:
We can count A,B,1,2,3,4 with a 5 needed to complete C...then down
http://img100.images...eurod871oc0.png
The bull and the bear of it...
Bull:
Looks like a W bottom ...over night ES tested the 8 ema and bounced hard, this is a 120 min all session ES
http://img204.images...eurod874pq1.png
ES 60 min all session...the bullish count where another high would complete a subdivided wave 3..
http://img514.images...eurod872ml0.png
Bear:
We can count A,B,1,2,3,4 with a 5 needed to complete C...then down
http://img100.images...eurod871oc0.png
Edited by Teaparty, 29 October 2008 - 08:18 AM.
#5
milbank
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Posted 29 October 2008 - 08:17 AM
sorry..one of those charts was a dupe...I meant to show a possible W bottom
http://img204.images...eurod874pq1.png
Head is up. Thanks "Kid."
I'll catch a ride after I see what the first quarter to half hour brings.
Edited by milbank, 29 October 2008 - 08:18 AM.
"The power of accurate observation is commonly called cynicism by those who have not got it."
--George Bernard Shaw
"None are so hopelessly enslaved as those who falsely believe they are free."
--Johann Wolfgang von Goethe
#6
fib_1618
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Posted 29 October 2008 - 08:27 AM
Keep in mind that tomorrows figures are that of the 3rd quarter (a rear view mirror), and will not include the stock market's collapse that took place in the 4th quarter. So don't be too surprised if the preliminary figure is positive.Just imagine what the GDP figures will look like?!!!
More important will be the productivity figures next week (the inflationary factor of the current stimulus) and, of course, the jobs data in which the market keys off on the following day.
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.
#7
cgnx
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Posted 29 October 2008 - 08:49 AM
All lagging and discounted. The market is living in the here and now. The market itself will create our destiny. Home prices are most important, sales etc...
If it can be cornered, it will.
#8
eminimee
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- TT Member
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I don't care who's fur is flying...
Posted 29 October 2008 - 09:20 AM
Tor...where are you short from?
#9
Tor
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Posted 29 October 2008 - 09:34 AM
Tea, Im not short yet, to be clear BUT I do see another plunge post fed. I think it could be a good risk reward, but I need a good entry. I wil ost entry levels cash price.Tor...where are you short from?
Observer
The future is 90% present and 10% vision.
The future is 90% present and 10% vision.
#10
Data
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Member
Posted 29 October 2008 - 09:36 AM
major lenders are pushing up the rates (10%) and downpayments (30-35%) for nonconforming loans. the high-end is in big trouble.
https://www.wellsfar...mortgage/rates/
https://www.wellsfar...mortgage/rates/
