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The Italian Stallion


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SG chimes in on Friday morning

 

Well

 

My "on record" post yesterday afternoon on IDS was that Wave c had ended yesterday at 26.98, with max at 27.30. And a 3rd of a 3rd decline should begin in earnest shortly.

 

Also, my Jan 9-10 topping days I posted a few weeks ago and continually looks to be the case to me, turns out it may be Jan 9th (last night) or this morning pre-market (Jan 10th).

 

The jobless numbers merely prove the economy is worsening and q4 is the peak of Tech profits... if you want to call it profits.

 

Insider selling is HUGE at Oracle for example recently...

 

So, it looks as if its time to get full short here today. Turns out, I should have went with my gut and shorted last night. My partner asked me yesterday afternoon what was wrong with me, I told him I was bummed because the client meeting I was in spilled well past 4 pm and I couldnt interrupt to enter my short trade on Rydex....

 

Son of a gun...

 

Anyhoo.... Wave 3 appears to have begun.... now this will unfold over several weeks mind you.....

 

Targets remain 24.57, 22.50, and then 20.10 to end wave 3.... I'll update after that (sub wave 3 of the major 3rd wave that is... then there will be a wave 4 up, and then a wave 5 down)

 

Question now is only WHEN do I reenter my short position, this morning, or tonight.... not IF

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They will spin it by saying that the job losses means that Congress needs to pass the dividend taxation issue. At least the unemployed won't have to pay taxes on all their dividend paying stocks.

 

It just gets funnier everyday.

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And I quote myself from 153pm post on IDS yesterday, page 3

 

SG updates with a new take

 

We may have just witnessed the following topping pattern, right on my Jan 9 or 10 window today...

 

An A B C corrective mini wave 2 upward from December lows.

 

This is how Im counting here

 

Wave 2 end in late November early December.

 

Wave 3 began on December 2nd at 28.55 qqq TOP. Wave 1 ended at 24.39 ish.

 

Now an ABC mini wave 2 just finished today at 26.98

 

24.39 to 26.93, 26.93 to 25.88 (wave b yesterday) and 25.88 to 26.98 Wave c today..

 

If this is the case, then today is the top....

 

And we begin slowly heading down now....

 

Hope thats not too complicated

 

The bottom line, is if we finished A B C wave 2 today on the QQQ... then we shall begin to UNFOLD A MAJOR LEG DOWN in the Q's....

 

Im thinking now that may be the case here....

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guten tag liebe stoolies!

 

i say: :lol:

 

nice example of how the stock market works: somebody throws rumor into the arena "good job data tomorrow", everybody buys that and the next day the have a big loss, but those who scatterd the rumor have big fat profits and stand in the corner and laugh their a.. off.

 

dollar knmocked out, euro with a new high.

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