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"

Monday, May 11, 2009

Correction

There are a ton of people talking Correction, or If only we could get a pull back, then I would get in... I'm not sure if that is part of the Psychology here.

8 comments:

Tony said...

If every 2% gap is met with "buy the dip", we could see lots of chop this week. No real big numbers coming out.

This tells me to go back to fundies: long quality, short crap.

My mojo on financials is so poor, I'm not even going there.

Eric said...

this is day 4 of chop..... if you don't realize...

Eric said...

how was the weekend?

Eric said...

so if you use the list, our next largest move is a large bull flag...

Tony said...

Didn't trade Fri, and not today either... just holding some swing trades and intermediate term positions. Honestly, these seem to be working better anyway: my long/short holdings.

Weekend was okay, had to work Sunday.

What "list" are we looking at? Would bull flag be a wave 4?

Like the Zoot Sims.

Eric said...

the list of trades.

"Pause" last tuesday

"wunderbar" thursday

Either this is going to break out of some kind of Ascending...

or it will be an ascending.

and Maybe it will false break out.

Eric said...

It doesn't seem like this move ... though currently an uptrend. Has enough energy to make a new high.

Eric said...

I don't think it's going to be possible for it to not retest 900 today

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