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Ascerbic adjustments


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Oh Boy... bears sure did not want to hear that. Reading on "TJ inverse-TauntomenterTM " is off the dial. :ph34r:

 

Ha!

 

Dude the "Tauntometer" was retired long ago

 

As mentioned on numerous occassions I am trying to keep my market calls to a minimum so as not to cloud things with intra day up a point down a point untradable nonsense blather

 

Last year I was early on the market meltdown by a few weeks

 

Last summer I was buying right into and at the bottom

 

I watched those buys return between 25-70% from the end of the summer through Q1 of this year

 

Then I told EVERYONE about going to cash through out Q1 of 2012 and that I would be out by March 31st, which I did

___________

 

Intermediate-term "guessing" that pays the bills and is tradable

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I am thinking of possibly selling my GLD and SLV in my trading accounts, and trying a short position on the banks BAC, C, JPM and MS. It looks like topping action to me in the one-year SPX graph below. But first I would expect a backtest of the broken trendline, so I might have to wait a day or two still.

post-647-133364316939_thumb.gif

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If I am right that we are making some kind of short term top, then SPX should do some kind of retest of the broken purple trendline. It could only go up to the two green resistance lines which mark previous gaps at about 1405, or it could go higher to 1410 and back-kiss the purple line.

 

Or, it could just go up, up and away to new highs. I am a bit scared of entering a short position and discovering it was just another bear trap.

post-647-133364369519_thumb.gif

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If I am right that we are making some kind of short term top, then SPX should do some kind of retest of the broken purple trendline. It could only go up to the two green resistance lines which mark previous gaps at about 1405, or it could go higher to 1410 and back-kiss the purple line.

 

Or, it could just go up, up and away to new highs. I am a bit scared of entering a short position and discovering it was just another bear trap.

 

With Crapple leading me thinks we kiss the 1410 and then get the full wrath of a swift 10% overall correction soooooooooo overrrrrrrrrdueeeeee

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