Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.

J. P. Morgan

"Sell down to your sleeping point"

Friday, April 11, 2008

I was eating dinner


I pointed out that little move, the move on tuesday... which is a pattern that seems to repeat.... on Wed I pointed out that it keeps repeating, if you click on the chart you can see I've drann them both out.... So I just looked for the post, I did about the repeating pattern...... and posted it to the wrong blog....

Here it is.

I've spent hours stairing at charts.. here is 3 days on the
SPX....

I've done some wave counts.... in the middle there in red..... I
keep talking about a repeating pattern..... Problem is..... It's funny how I
fall for the same thing every time... So... I'm looking at todays low being the
"Bottom" or near Term low... Well ...

if you look at that central Red
pattern... it shows that this is a False Bottom... and that it is actully a wave
3.. We should get a move up to where that will be a move to 1364 or so.... Then we
could quite possibly get that wave 5. Which should be a good 20-30 point sell
off. and is the good money maker.

I've been having some real Foul balls
latly.... Keep your eye open it should be a good bet...

and yet again
maybe it will be a foul ball.


That is funny....... What is messed up is that, it's right on I was off by 3 pts on the SPX....
Extra Messed up is that I got excited by the rally..... and didn't keep an eye out, and didn't notice that this was what was happening.... Even though I made a small bet on it.

That pattern is a Bitch to trade..... It's proved it several a Few times on me. That is a 50% retracement 4th wave...... It's nutty.

but who knows.... That is messed up... Maybe next time.

No comments:

New Economic Indicators and Releases

What does Blue Horse shoe love?- Blog search of "BHL"

cnbc