If you're short, I'm the sucker going long....: Teranova the Bull!!

Wednesday, May 20, 2009

Teranova the Bull!!

That is some good news....

9 comments:

Tony said...: I was about to think that 91.28 pivot would hold until Terranova said "buy".

S1 is 90.63... by 2:30.

Fade that moron every time.; May 20, 2009 at 1:04 PM
Eric said...: We are probably on a downswing.. but significant resistance eat 91.10....

but I also think this is a postion where nobody will hold long..

but won't want to hold short overnight.

Many stopps at 91
then at 90.25
89.40.; May 20, 2009 at 1:09 PM
Eric said...: if we break 91.10 it will suck all the shorts in.... and we will get a level with a "solid bounce"...

not sure when... but...

what could form is a very large descending with may 07 high or whatever it was, and then todays high...; May 20, 2009 at 1:25 PM
Tony said...: Damn terranova. LOL

Bounced off pivot, now at R1 of 91.79

Bear flag on the 5-min? I'm thinking this is too much for just a bear flag.; May 20, 2009 at 1:54 PM
Eric said...: there was a decent momentum high and secondary...

so.. that could be the end of the correction.; May 20, 2009 at 1:58 PM
Tony said...: S1 is 90.63

Not sure why this works, but it's crazy close. Lots of people must be watching this.

Carter Worth vs. Joe Terranova

can both be wrong?; May 20, 2009 at 3:39 PM
Eric said...: Like a fucking vortex of death...

if you are positioned well..

nobody will want to hold short into the close after the last opens...

so.... maybe being short into the close will be ok..

and yet... we are looking to close on the lows... which suggest futures will be up.

It's all about the retest.. if we retest 875.... good... else... we may pennant into 950; May 20, 2009 at 3:45 PM
Tony said...: Thanks for the heads up. I'm out of all my shorts now. Lots of cash.

I wouldn't bet a nickel on where we go from here. Probably down, but I'm at a loss.; May 20, 2009 at 4:01 PM
Tony said...: I know you hate this, but gold miners and materials both up 20% past 4 weeks.

Re-flation. T.Lo nailed it.

Weird because Treasurys have not been hurt with gold and materials going up.

She definitely sees things I don't.

Thanks for giving me the heads up on her, too. (I owe you a beer, or a new tire gauge for your bike.); May 20, 2009 at 4:05 PM

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