The original post was too long a video for YouTube. Sorry! Anyway, big day today. Let's see what conviction the bulls have and if the Bears are ready to raid! Here is clip 1 dealing with Bollinger Bands.
Clip 2 on todays actiion (give the videos time to process on YouTube)
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12 comments:
I'm giving up guys.
Diversion everywhere, rationale and logic non existent. Even (hedged) stops behave erratic.
Greece is now officially bankrupt. More countries in the deep red zone.
But hé, euro is up, my euro index is up 1,43% (yep 4 out of 5 days this week more than 1,2% up) and USA market looks like rosy place to be too.
I'm beaten.
The bulls got this polarbear lured into the desert to die. Hats off to em.
Have a great weekend.
CU all next week.
It is an amazing time in world history. The US has used might, media, and extremely dangerous monetary policy to set the entire world up for a complete melt down. The current push is to make the public WANT inflation. Inflation is going to save us now because it is the only way that we can manage our debt. Can you imagine? Trying to sell the average joe the notion that higher costs for gas, food, entertainment - basically ratcheting the cost of living up - is a safe way to protect the nation as a whole from our criminal debt load.
All I can say is that I have a wine rack to build...
Hi David and Paulus , David thanks for the Bands Video.
We know how this ends , we just dont know when.
take care
Hi David , looking forward to pictures of the wine rack :)
I took a look at Spx in the light of the day .
There is a triangle that started 3/19 and finished E on 3/31 at 1167
The Triangle can really only be one of 2 things here , wave iv or a wave B ,
If we look at only the Day chart ,
we are looking for a 5 up either way. finish wave3up , wave4 down and wave5 up to finish the move from 1044 in Feb.
But if we look at H or any other time we see 3 wave moves up and down , and there seems to be a triangle midday on friday.
We are at or near the line of what could be a ED . and we go boom.
Good luck every one .
David , Why would we not want inflation ?
after all it benefit the asset class people and detriment the have nots .
Just because an inflationary policy has never , never ever in all of history brought prosperity .
200 hundred years of detailed text from Adam Smith to Freedman explain why it cant work .
That should not stop us from trying it should it ?
Ok Sarcasm off now , We are out of out freaking minds.
Paulus , on the $ only a break under 3/17 low will confirm $ is in correction , until that happens , I will continue to look for a new high in the $ . ( am flat the $ now )
On Bonds , I still expect there to be more upside on the t- short ,if so TMV, if so it should bounce off the lower trendline , when it gets there at about 64.50 ish
the trend line connects 11/30 and 3/18 lows to finish off the zig zag down \\
good luck out there
Hi David , how is the wine rack coming along ? I hope all is well.
wanted to share what I see in the $
I think its a triangle , the march high being B , and the recent low being C , and in wave D now .
if it is ,we will be in the 80 range for some time and break up to to over 85. Would that not be something .
Bonds, TBT and TMV are close the lower trend line , " should " bounce off and move over 70 on tmv.
I dont think spx is done yet
take care
Bonds
Payline,
Heartwarming friday.
Happy to have hung in there , but only if no crushing buy the dip bounce on monday.
Keeping on to short line. Looking to add.
Indecisive about gold position. Any thoughts?
Will be looking at short bond position, contraire of your view i guess.
But yield will creep up as will $. Bonds needs to tank to even out.
How about a nice bottle of Tedeschi Capitel Monte Olmi 2003 amarone to celebrate a nice down friday amigo's?
Hi Paulus
"Will be looking at short bond position, contraire "
I am with you , and short bonds again as of yesterday , I expect it to bounce off the long term trend line , ( almost there ) , ( TMV ) . My TA would calls for at least one more high in rates before bonds have a counter trend bounce back up .
My last post I shared the possible higher high on the $ , it is also possible the march high was the short term high and we are on the way to 77 , 78 before moving higher. but the triangle look very possible now.
Gold have silver are in some kind of triangle ,( notice the moves are in 3 waves up and down ) that I can not figure out , so I am flat . One thing we can see from Jan till now , the idea the metal are a hedge from the market , is not true , Gold and Silver have moved down on every down move.
Bonds are one reason I think we have a spx has a leg up to go ,
I have been watching 2 EMT patterns
one is the ED , its possible that 5 was early this week but this chart is more likly
http://2.bp.blogspot.com/_TwUS3GyHKsQ/S8jDge1e6AI/AAAAAAAAE0w/muQluhgnUwM/s1600/wlsh10.png
good luck out there .
Paulus , I took a good look at gold and silver , chances are they both make new highs , after a bit of pull back
On gold my guess is the A of the triangle was 10/28 the high wave B
and the E was 3/24 . at 1086 .
I will be looking for 5 waves up off 1086 . I close under 1086 makes this likely wrong .
Silver watch of a bounce off 17.20ish that could be the E spot
to start a five up to new highs ,
a close under makes this less likely.
good luck out there
Hey David , How is that wine rack coming along ?
Hope all is well .
UPDATE NOW!!!!
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