I should have thought of that. I still say we get the retest, we can see if there is much more bounce in the market tomorrow.
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.
Thursday, August 11, 2011
Wednesday, August 10, 2011
so I suck....
I can't get a chart going right now... I'm just totally out of practice.
Tony E-mailed me, asked if monday we had a bottom. I said... "it doesn't feel like "we are going to crash" sentiment, there is still some optimisum. We had a nice run... everyone got very excited... and we rolled back over.
This bounce sort of felt wave 4 to me. feels like a move to 1050 on the spx is in the cards. I nice little bear trap below there would sort of feel "Right" some kind of "look out below!!!
tony asked about my indicator and how I read it... if 10 is euphoria. well we are now at a 2 or a 3. futures are up fairly significantly... I just think that like I say "futures are sentiment" that is not exactly "Negative".
I'm keeping an eye on it... I just think the market will have to test on a quarterly basis that 1050 level. or somewhere in there. It just seems silly not to try.
bla bla bla ... central banks .... Default..... what we need is a nice MEME.
of course "slow growth and a sideways economy" .... well we knew that....