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"

Tuesday, March 9, 2010

Miserable Predictions

They don't make it easy. Obviously your setup is the V2b over yesterday's high.

Shit! the question I had about sentiment was if "They were Dancing", and not being sure if they were there or not. My TV is still off, and I'm not apt to turn it on, and find out.

The hard part is that you don't know if this pull back is just a pullback from the "old Highs" as a target.

At this point... if I'm doing wave counts, I can't exclude this position as the top of a "Wave 3"

and that we still need a Wave 4 and Wave 5.

They don't make it easy... I'm just admitting to being in the dark on this one. The only decent sign I have had, is the High Sentiment...
the Bull Bull Debate on TV continues....
I'll also use one of the Mamis indicators, That there is definitely a sense that "we shouldn't be buying this" but still are.

My official dance on friday was, that we needed a few bars, Some kind of 4-5 bars of reversal. I can say it seems like a top is forming, but I'm still not sure it's here. I feel like Brian, we will know later if "this was the top"

the crystal ball they issued me, is mirky I still anticipate a larger correction before a "good top" this one little downbar, this morning on the 30 Min or the 15 Min... seems slight to me....


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