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Allie


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SG chimes in

 

Well... glad I was in cash on Fri night...

 

That said.... Rally does not yet appear complete and I cant get a firm read here, so I wont do anything on the close, tempting as it is to short it.

 

If wave 1 ended on Friday night, then QQQ heading to 26.40 before I would consider entering a short... and it could go higher than that as well, thats only a 38% retrace of wave 1... the minimum required for wave 2....

 

So, it looks like my 1051-1065 NDX that I talked about over the weekend will be tested sooner than later perhaps, at which point I would enter short positions.

 

Tonight, I do nothing.... and cash is king once again...

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Any doubts about where this dungheap is headed?

Major destruction is dead ahead. Look at Doc's 6 and 12 month Cmaps, in case there is any doubt.

Patience.

Just make sure the brokerage accounts are stuffed with green. Panic shorting is no fun :grin:

 

Monthly:

 

engine.asp?skin=marketscreen&split=1&pri=&time=&cname=&lcprice=&symbol=spx&indicator=1,13,,;32,5,3,3;33,,,;34,,,&dur=5y&freq=2&intr=&type=4&width=480&height=360

 

The 13 month MA is 'The Kiss Of The Kodiak':

 

engine.asp?skin=marketscreen&split=1&pri=&time=&cname=&lcprice=&symbol=ndx&indicator=1,13,,;32,5,3,3;33,,,;34,,,&dur=5y&freq=2&intr=&type=4&width=480&height=360

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Easy Al you should see what happens when I make a deposit in that machine. :shocked

Rich:

 

I suppose that there is big chance that your deposit may fertilizing something inside the ATM, which eventually yields more money (ie. multiplied). I am just curious how large is the multiplier. Do you think your multiplier is as powerful as my printing press ?

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Maybe those fib turn dates meant something after all... Chart posted on Bontchev forum........ One of these days I might start to follow my own TA............naa, to stupid for that..... shorted some more AMZN today from the weekly chart......

 

Actually most weekly charts look shortable

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Look at any stock that is up big today and you will see big open interest in puts right above the current price. Where is the bright side? This is a big expiration in terms of open interest. Fortunately the last two months have bloated the call side relative to the puts. I would not be suprised to see some heavy selling this week.

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