42 replies to this topic

[Bullryder]

bullryder, there is no rule that say's we have to follow 1929 or 2003. I was citing that as an example of a timeframe and market action that closely resembles this time but more so just a warning of an example when things looked bleak and the market set up for a fall it just kept going up. There is something else that tells me this is not "the top" but I'm not giving my best tool away. hopefully the market will correct some but looking for below 600 soon is unreasonable.

I agree it is unreasonable. But that is what I see, a devastating decline. I will be a buyer.

Edited by Bullryder, 30 April 2009 - 02:09 PM.

[MoneyFriend]

bullryder, there is no rule that say's we have to follow 1929 or 2003. I was citing that as an example of a timeframe and market action that closely resembles this time but more so just a warning of an example when things looked bleak and the market set up for a fall it just kept going up. There is something else that tells me this is not "the top" but I'm not giving my best tool away. hopefully the market will correct some but looking for below 600 soon is unreasonable.

I agree it is unreasonable. But that is what I see, a devastating decline. I will be a buyer.

A few things I see:
880's as rejected.
Another day like 4/20 will hit soon.
850 tomorrow.
My account balance closing higher today than yesterday, pretty funny considering we hit new highs today.
Duh cheif keeps trolling me, but all I see is a convenient "You have chosen to ignore all posts."

Edited by MoneyFriend, 30 April 2009 - 02:14 PM.

[rkd80]

MF, dont forget to add " Influx of nutjobs coming out of woodwork" otherwise so very true. Exhaustion gap in full effect and tomorrow there should be a followthrough of today's price rejection. Yesterday's volume failed to confirm and today confirms that.

[Russ]

I see all the bears trying to get out of their traps as the market sold off.

Eat swine drink wine and die bears.

Second bear trap right here

Enough poetry, how about some priceless info? Maybe you can convince me, through logic, why shorts should reverse up here. All ears.

MF, dont waste your time on that guy. Someone calling himself TA master and providing no TA is ironic at best - naturally senseless bull action brings all the crazies out of the woodwork.

Today's pattern fits the exhaustion gap model.

That's a good point. When the housing was skyrocketing there were crazy people that started to show up on TV saying that housing could not fail. Something to do with the madness of crowds. Some guy showing up after a huge rally mocking the bears is a classic signal that the top it near.

[MoneyFriend]

I see all the bears trying to get out of their traps as the market sold off.

Eat swine drink wine and die bears.

Second bear trap right here

Enough poetry, how about some priceless info? Maybe you can convince me, through logic, why shorts should reverse up here. All ears.

MF, dont waste your time on that guy. Someone calling himself TA master and providing no TA is ironic at best - naturally senseless bull action brings all the crazies out of the woodwork.

Today's pattern fits the exhaustion gap model.

That's a good point. When the housing was skyrocketing there were crazy people that started to show up on TV saying that housing could not fail. Something to do with the madness of crowds. Some guy showing up after a huge rally mocking the bears is a classic signal that the top it near.

Well put.

[MoneyFriend]

I was referring to your big wedge you posted a few days ago that was supposed to stop the market. can you post that again with current price?

Here you go skott. PS the bottom tangent of that wedge is also a very powerful force to reckon with, if you actually buy this trendline thing, I'm not sure I totally do. But I do find it interesting as a compliment for other more logical analysis.

Edited by MoneyFriend, 30 April 2009 - 08:09 PM.

[CHAx]

We are in a strong uptrend until we aren't. All you guys high fiving each other because we didnt have a breakout? Reminds me of the bulls the whole way down, fighting the trend and the euphoria when SPX 800 held 3 times and Humble1 was claiming that there are "dead bears all over the 800SPX". Flame away, didn't mean to ruin the party.

[MoneyFriend]

We are in a strong uptrend until we aren't. All you guys high fiving each other because we didnt have a breakout? Reminds me of the bulls the whole way down, fighting the trend and the euphoria when SPX 800 held 3 times and Humble1 was claiming that there are "dead bears all over the 800SPX".

Flame away, didn't mean to ruin the party.

I have no intention to flame, I'll leave that to disgruntled forecasters.
This is just how I see it Mr. CHAx.

[CHAx]

[MoneyFriend]

And???