anyone who bot ES on full margin at the open today , totally wiped out at the today's low. (59 points should wipe them out to be precise)
however this could be a good thing for them because this is going much deeper folks.
i know it is little late to be cautious if you werent by now but i have to repeat it aint over yet.
i can not elaborate right now, if you listened to me before, you already know.....
just short any little pop you get... do not follow intraday charts, do not read or listen mentally ill snorting morons, buy and hold actors, snake oil sellers, do not watch tv..
they will call 100s of bottoms going forward, but most of them probably dont even trade anything... if you have a trading service you follow, use it with caution because it is likely they dont have a freaking clue about what is happening right now too.
i know it is very hard to sell things at this juncture but you have to make a decision. One thing i can convincingly tell you at this point, when this thing turns it will not happen in one day. You will have time. It will do backing and testing. we will be able to identify it.
do not try to catch anything now. be insensitive.
we are writing history here, this is the initiation of a unique bear market that will likely carry a crash-like move as i have been telling you for weeks now.
this is a market event we will remember next decade and beyond.
Edited by xD&Cox, 27 February 2007 - 06:11 PM.