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.
Tuesday, December 23, 2008
no chart
but in a micro sense, yesterday's bounce into today... may have been a wave 4, now we have a wave 5...
Brian Shannon always refers to daily VWAP; it would be interesting to know what percentage of traders in etf's are day traders. Especially on a week like this, I would think people will be unloading into the vwap... like yesterday.
Starting B wave now?
ReplyDeletethere is a 1pm sell off normaly,
ReplyDeletelook at the 14:30 or 15:30 time frames.
but I dont know, we may get a decending triangle on that 28.75 level on the qqqq, and what ever the lows were on the spy yesterday...
From EWT, are you calling the upslope from yesterday at 3:30pm to this am as the B wave? Then the C followed?
ReplyDeleteIf so, we should be looking for a new cycle, no?
that 10:30 high could be the top of the B wave... and we may bounce on that low for a few days.
ReplyDeleteyes we could be in the C wave...
ReplyDeletebut it's sketchy....
Who will unload into the close today, shorts or longs?
ReplyDeleteMy vote: shorts, again.
day traders...
ReplyDeleteit will depend if we are up or down...
I was thinking more of a sell off by now
it's possible nobody wants to play into that rally from yesterday...
ReplyDeleteso they are being extra cautious.
well that got me out
ReplyDeleteSo... could still see the low, or we could see a nice big Bear flag.
ReplyDeleteBrian Shannon always refers to daily VWAP; it would be interesting to know what percentage of traders in etf's are day traders. Especially on a week like this, I would think people will be unloading into the vwap... like yesterday.
ReplyDeletemy bet is on a higher low at this point.
ReplyDeleteI'm trying to stop myself from buying rig.
Your boy Terranova explained it all!!
ReplyDeleteLooking at him, I'm thinking of buying a teeth whitening stock (PG) and maybe a mousse manufacturer (CL).
RIG baby!!
He did stumble through it, Oil won't be a long term hold for years.
ReplyDeleteWell... technically we didn't touch the low.... Maybe tomorrow...
else Higher low.
Did you notice how we seemed to game theory all that out so we didn't get that rally..
but the 50% retrace is 86.70