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Defensive Driving


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Thanks Goldmember. I'm 52 years old and don't really know the difference between a note pad and a feminine pad, but I think I'll have time to try some things on that today. I'll PM you when I run into problems. These Prophet charts are through Medved. I've been emailing them, pasting to a browser and saving them into pictures.

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anyone else think the bull side of the boat is getting awfuly crowded? ? Seems it is a lock (1) ? oe must be up, and (2) ? the mkt will rally once the bombs drop. ? ?Sorry I think I need to start fading the consensus.

What gets me is not how many Bulls there are. But, how quickly they congregate. This always makes me suspicious. If Bullish sentiment is so quick to surface, then I doubt we have sufficient "pessimism" to mark a real bottom. In other words, Martin Biggs is full of dung.

You'll know it's The Bottom when stocks are less popular then radioactive toxic waste. And "everyone knows" you can't make money with stocks.

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I'm not convinced we're going to reverse significantly today. Correct me if I'm wrong, but in the past two years, we haven't had a single instance of a long white candle, followed the next day by any significant break above the opening price, that ended the day significantly lower (a hanging man). Not once. And I don't think today will be the first. We'll either close where we opened after a drop of about 10 points (a doji) or close above the open. Then again, I could very well be FOS. :unsure:

 

Edit: Im referring to the SPX.

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Lets see

 

KGC up 9% plus today

QQQ down

 

SG shorted Q's last night at 200% and bought KGC this morning.

 

Who is using waves and who is using emotions?

 

Just a Simple Guy... but this move reverses hard next week kids...

 

Keep your heads on

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Meta:

Tried to post this earlier but something happened. Predict USD will go to .50 within months. I think EEC has orchestrated agreements to switch to Euro when US invades. This may also take the pressure off gold since the Euro is gold friendly. Currenly flat on CHF but will go long mid/late next week. The real argument is whose currency we use, not who drops the bombs. See LOB for more details. I think this was the betrayal Phat and Chasmo were writing about. This will be a sigma 10 when, not if, it happens.

 

Administrator: Having a lot of trouble posting.

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