From the Idiot box today.....
"THEY SAY".... that 850 is the "Important level"
All Eyes on 850.....
That last bounce was the bounce off of 10%....
And 850 is the 10% level....
some of the other "Talking heads" are saying.... ahhhhh but look for the 15% correction....
I'm just talking about some of the New MEME's for the correction are....
One also has to apply some Game Theory to that....
I know that they know the 10% level....
I know that they also are looking at the 15% level....
never make your game theory more complicated than that..... because ...
Tuesday, June 23, 2009
The game as I know it
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2 comments:
In other words, don't get too greedy?
High 96.11 (kudos, btw, since this was close to YOUR game-theoried target of 95 from last month).
10% off = 86.50
Game theory target: 9.5% off = 87.00
But looking at the chart, could we get a h/s right shoulder up to about 91.50-ish before the target?
At this point let us keep our eyes open... and we will look for the "Trade of Last Resort"...
But... We are only talking about point DD here....
later we do Point E.....
That is the Shoulder... and it will be in the 800 range.
but we should get a Butt crunch trade from DD to a "Test of Top"
But to look at your numbers ....
there is that nice resistance at 88... and a "False breakout/Trap" to 87... Is something...
but also like they say... a Break of 85... and a little 5% trap to the 15% correction.....
then the rebound.... to the test of top...
then aversion... to give us the nice 20% correction that they don't see...
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