18 replies to this topic

[relax]

hi semi great call why not 2.400, which is the low of the very high volume candle from february was 2.425 the close for that candle cheers

[SemiBizz]

ABC Down Calcs...

[emdee]

Congrats on a great call Semi. At the time of your post the Naz was at 2536. Question...where did you get da boyz playbook? <g>

[SemiBizz]

Thanks for all the kind remarks... Just one observation about this site, seems like there's a lot of folks just dying to pick bottoms and tops... I think you have to pay attention to TREND here. It has been an easy ride to buy dips for the past few years of the previous bull market, because the bull market always bailed out the dip buyers if they bought too soon.... We are not in a bull market now, buying too soon could leave you buried in losses. The Trend on Nasdaq turned down more than a week ago. So, until proven otherwise, as in show me 5 green/white daily candles in succession, I'll be selling EVERY rally... Just because we hit a fib support yesterday doesn't automatically mean we're going back and make a new high... it is a support and it can be tested and run over like road kill on the next plunge. Oh and the 2511? it was the next trading pivot under the 2516 low from yesterday. I believe we're going to test 2492 soon and then spring back a bit...maybe even as high as the 2557 Fib Cluster, but maybe not too.

Edited by SemiBizz, 03 August 2007 - 05:40 PM.

[ZIDANE]

Thanks for all the kind remarks... Just one observation about this site, seems like there's a lot of folks just dying to pick bottoms and tops... I think you have to pay attention to TREND here. It has been an easy ride to buy dips for the past few years of the previous bull market, because the bull market always bailed out the dip buyers if they bought too soon.... We are not in a bull market now, buying too soon could leave you buried in losses. The Trend on Nasdaq turned down more than a week ago. So, until proven otherwise, as in show me 5 green/white daily candles in succession, I'll be selling EVERY rally...

Just because we hit a fib support yesterday doesn't automatically mean we're going back and make a new high... it is a support and it can be tested and run over like road kill on the next plunge.

Oh and the 2511? it was the next trading pivot under the 2516 low from yesterday. I believe we're going to test 2492 soon and then spring back a bit...maybe even as high as the 2557 Fib Cluster, but maybe not too.

Nice call and interesting outlook. I also have us slightly dipping under 2500 and springing back to test yesterday's highs, or even slightly exceed them. All downhill from there though!

[swanstkdh]

How do you think PMs will do in all of this.

[SemiBizz]

How do you think PMs will do in all of this.

If you are talking about stocks, they are all going to go down... the metals will hold until the commodity group collapses...

[swanstkdh]

Yes I am talking about stocks. Seems to me this could get really ugly.

[SemiBizz]

It is ugly... a recurring train wreck. But the way this works is nobody believes it can be over... Couldn't possibly be. After all, what a great economy we have going here. I mean sub prime? $3-4 gal gas? Food prices rocketing, it couldn't be inflation could it? And look at the bonds, why they just reflect a real pink picture - don't they? You know just a few weeks ago there was a fight to see who was going to get ABN-Amro, now the CEO has said "NO DEAL", as if he had an overnite Eureka about some future super-valuation of the bank ... you talk about saving face... there's NO DEAL because there's NO MONEY to finance it. What a complete joke.