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, August 14, 2008

Trends


SPX trends.... You can also see the developing Wedge...... We shall see
as a chart astrologist.. I like to measure the health of moves.... and this is the healthiest move we have had in the market since October. Umn. Just to keep everyone cautious. The way they tried to sell that up move was .... Aggressive. It should provide some crazy upside..... But... Maybe they will win..... whoever they are.

This is more sign that after this up move, we will get a solid correction.... I still stick with my sugjestion that ... Next week, we will get a solid 4-6 day sell off, Then a week long up move till sep first. Then a sell off into the NFP on the 5th.... and it will depend on the number... either way we will sell at one point... But that will help us to decide how far to sell the market in october... Also the October NFP will give us some idea too.

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