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"

Thursday, July 10, 2008

Inflection Point

They have thrown everything at this market. Aliens are coming, Lehman is Molesting Little Girls, Freddy and Fanny went up the hill and cracked their Crown, came tumbling down.

We ended on an important Resistance, In fact its both Horizontal, and Live Trend, It's that Green line on top of that Trade Channel/

Ok.... Most probable thing is that In the morning The sky is falling, we get a Buyers strike, we take that green trade channel Through Resistance, Land on our asses on a Friday. Monday The rest of the World sells off in a panic, and Armageddon Is here....

OR

We break that upside Resistance, Come back to the Blue Trade Channel, and ride it up, About 11pm we hit that Pink Resistance, We correct. End of the day we end up in the Blue Resistance. at the end of the day. Monday, we Trade up above the blue resistance.... Where the Market Sets a Bull Trap, and We start selling off Hard. Tuesday we sell off 400 points, then Wed morning it looks grim, and we Panic into a Reversal at 10700.

I don't know what will happen, But..... Those are 2 guesses.....

My best guess is that the market will keep us Hopping.

I'm probably wrong.

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