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The Awakening


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SG chimes in

 

OK... I have read the Private Messages, and the posts, and Doc and I have corresponded a bit further.

 

SG will let himself cool off a bit and will be back next week. Because its going to get UGLY For the Bulls and Beautiful for the Bears.

 

Just a quickie

 

SG again reminds that he believes the pattern completed yesterday and so went short. SG follows his own advice and when my cited 26.80 was hit, I entered my trade. If the E waves work for me, then I must continue working with them. If you let your emotions get in the way of your trading, you are hosed. I speak from experience here, rather than from a preaching perspective.

 

ST I look for 25.90 range..ish.... on q'S.... I MAY close out then, as I tend to swing trade for 1-3 days max at a whack. My returns compound doing so, trust me....

 

Bottom line.... I continue with my Jan 9 or Jan 10 topping day, and continue to expect the indices to fold up their tents starting next week for a MULTI WEEK decline.... as in 7-8 weeks....

 

Now, relating to charts and A B C, etc.... SG does not go there. I dont try to label ABC X or ZIG ZAGS or what have you. If its that type of unclear pattern, I just DONT TRADE. The last few weeks I just hung around and did nothing waiting instead for the pattern to be CLEAR. Now that its clear, then I acted on my calls... or shorts shall I say.

 

I have no long positions now, having closed out DSCM yesterday at 2.51 for a FAT Profit from 1.80.... (It closed at 2.29).

 

So, until next monday... here is the deal...

 

27.30 max pain upward possible still on QQQ index. If so, Im holding. If it goes over that, Im getting the hell out of my position.... this I DO NOT expect.

 

25.91 near term is a retracement I expect... and more likely... 25.40 or so is possible... where I may cover short term.... remember, Im at 200% leverage here.

 

Ultimately, wave 3 down has begun or will begin very very shortly.... and you want to be riding this wave because it will be the MOST PROFITABLE wave of this bear market over the last 3 years.... trust me on that one.... you want to be on this wave.

 

I will be back at ya Monday, as I expect next week it gets interesting.

 

Turn dates are Jan 13-16th fibonacci wise.... we may get one more runup ahead of that to blow out the final shorts....

 

If I had the balls, I would write a check off my home equity line and add it to my short position next week.... but I aint that dumb.

 

See ya Monday... and thanks for the kudos and nice messages. I got a little hot headed at Doc last night, but as I said... we worked it out... and I woke up on the right side of the bed....

 

3 day break will be good.... be careful out there...

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fx, what was Doc's dollar target a while back? 101 and some bits left over? I find it interesting the dollar bounced right there. Or did it do it earlier and come back to it again and then bounce. I get shivers when I see where the dollar bounced on Fokker's chart up there. Oh my! :wink2:

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RESEARCH ALERT-UBS cuts JP Morgan to "hold"

Reuters, 01.08.03, 8:04 AM ET

Whereas the Bank of Drano cuts it to "piece of #&@#-ing #&@%" :grin:

 

Amazing that one of the big sharks turned on its own this way, at this time. Is scam week bull shake-out starting a little early?

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Dividend Rally update:

 

White House economists are convinced that ending the taxation of dividends should tack on 10% to the stock market.

 

Well, so far, it looks like it's tacked on about 6%. :lol:

 

If your bullish:

the SPX could pull back to 900 or even 894, (OEX 455) and just be loading up the spring for a push up to 965 (OEX 490).

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On this day in ?

 

* 1815, the forces of American Gen. Andrew Jackson decisively defeated

the British in the Battle of New Orleans, the closing engagement of the

War of 1812.

 

* 1916, Allied forced staged a full retreat from the shores of the

Gallipoli Peninsula in Turkey, ending a disastrous invasion of the

Ottoman Empire that resulted in 250,000 Allied casualties.

 

* 1973, the trial of the "Watergate Seven" began in Washington, D.C. The

defendants were charged with breaking into Democratic Party national

headquarters.

 

* 1987, the Dow Jones industrial average closed above 2000 for the first

time.

 

* 1993, thousands gathered at Elvis Presley's Graceland mansion in

Memphis, Tenn., to purchase the first issue of a stamp honoring the King

of Rock 'n' Roll on what would have been his 58th birthday.

 

* 2003, SG returns to Capitalstool.com. Dr. B makes discovery that would change a major paradigm in the universe, but keeps it to himself. Sweef takes extra pysillium to help with the day's major work project.

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