I'm so bullish on the stock market right now I can't sleep.... to be honest I always feel like this is a counter argument....
What is funny is when I feel optimistic about the state of the U.S. Economy.... That is the time I go for a walk, and decide.... ok, time to get short.... I'm dead serious... it scares the shit out of me when it happens.
Ok, it's 12:07 my time 2:am eastern... I'll have trouble getting up.... but I will work out a chart...
but we just started wave 3 to the upside. I expect a standard 5 wave move. then a correction, then another 5 wave move... this will bring us between to about 1450... then we come back.
But.... This could go off like a Foul ball. But I also expect this first move to go till Tuesday, then correction through NFP... then continuation of the up move.
I will work up a chart......
Let me cover..... I hate this economy, I hate the market, I'm a total Bear.... But it doesn't make me money. To the moon Alice!!!!!!
I may even sleep in.
I had to call a friend, It's that friend who wishes I would manage his retirement...
"Hey"
"I just wanted to let you know that it's over.... Near Term"
"oh good, I was hemmoraging money like mad"
"ya, we should rally for a while... maybe a week maybe a month or 3 so, if your thinking about reallocating your portfolio, that will be the time...."
"would you call me then?"
"sure roughly, I umn just figured you would be relieved to know."
"Ya, I do appreciate it."
What is So Fucking Ironic, is how aaple used to show a small top in the market, or give it a little spike, and this time it just got Pounded, and gave us the lower low off the bottom.
Wednesday, January 23, 2008
good lord
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2 comments:
Recent high volatility makes me uncomfort...with yesterday 600 points swings from negative territory to positive.
I am trying to test yesterday rally was a turning point that we finally hitting the bottom and begin to recover or this is only a dead cat bounce...
hmmm.... My prediction is down futures, then we will run bullishly all day.
This is a dead cat bounce, but It will go on for a bit... also called a bear market rally.
this should go on repeatedly, we will make new lows, then we test the downtrend line.... My upside target here is 1400-1500...
I'm very sorry... if you give up, think about flipping into a financial or retail... I know...I know..... Maybe even a tech name, you could get a great run in some stuff.
I could be wrong, and bear market rallies do go off like foul balls sometimes.
I just got 4 hours of sleep and am going to hope for a few more before the opening bell.
I can be wrong :)
and high volitility will continue... you could come out with a good exit.
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