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"

Thursday, October 1, 2009

Chart Astrology

I mentioned to tony as he was talking about when to buy. That for a bounce the Trend day Pluss some Grim Futures, is typically the buy for a bounce.

I also had a target of 103 on the SPY.

So... now that I'm covered in Heaven.
Let me cover myself in Hell!
There is a new target of 100-101.
The Automated SAR's kicked to a Sell, The improved SAR's which are not depicted were triggered at 1030.
10% correction is 98 or 99.

The wedge or break of the wedge is widely watched, and should kick in enough panic selling to cause a bounce... or as trend watchers would say, we can break it, then come back at it from the underside.

that 10% is a little obvious, so seems like a bounce will happen a little bit before.

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