blah blah blah blah! I'm ready to fade 1220 so hard it'll make your head spin! Already positioned 1230 short and could care less! If it comes up, fade it again!
Alot of good this Fibonacci gibberish is when it comes to human lives! Yet another example of T/A voodoo crap thats full of potholes. Oh yeah, Fibonacci describes the entire universe and how world order behaves. Overanalysis on meaningless PAST data.
============== ETF; Agree there is more downside risk,perhaps more weather risk than normal, especially downgaps 40 % seems to good to be true. TOL closed below 200dma 2 times , huge sell volume; but most have NOT. Its still a bull market; even a fierce downspike wouldnt last long perhaps. Take shares in 7, 8 ventures maybe; you do not know what evil maybe on earth.-Solomon,trader king
Blah, blah, blah . . . And this from the windbag that stated the following back in mid-April just three days before the DEAD ASS LOWS OF THE YEAR at SPX 1137.50! 04-16-05 12:51 AM - - - EtfTraderLives "I dont know how you guys/gals can sit at your desk all day watching quotes and charts flicker on your screen in this '70s type of market. Why not take a long term short and go enjoy life!" http://www.elitetrader.com/vb/showthread.php?s=&postid=729199#post729199
As Apex said, please keep posting. I don't really care what handle you use, ayk, rubber, etf, etc. you're transparent enough and you're a better fade than Cramer.
SPX double-bottom is in with today's early morning "retest" of the 1211 handle. Above Mondays high of 1222.56 and yesterday's high at 1218.83 and the turbo-charged buy programs should kick in big time! Initial resistance at the .618% fib retracement and the 40 day MA at SPX 1225.79
No reason Dow can't break out to new highs today. Earnings great, gas prices who cares and no more hurricanes!!!! Actually though hurricanes are good for stocks? I am really not sure now. Buying is the only way to go.