So.... The question isn't "What to do" but "What are "They doing"...
We have a close above the old Swing low.
I use a Parabolic SAR, to indicate what the "Mechanical buy and sells" are doing, and they had a mechanical Buy triggered on friday. Roughly we should have a "Technical Buy" triggered..
by EVERYbody... and we should see the "Panic" as some people are Stopped out, the new buyers come in....
And they all are now going to take some Pain... and Maybe the Up Swing is done or has another day.....
But then we have the "Retest".....
This retest is what we are looking for.... This will be our No Pain entry...
of course the Caution is .... maybe it's "GAME ON" already.... But I'm ready to be patient....
the perfect setup is for there to be a spike high tomorrow through 11AM and for the downswing/Retest to start then.....
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
Monday, June 15, 2009
TLT UPDATE
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