Even tighter coiling. Gonna be fun when this latest consolidation breaks. I think I may bust out some additional capital and swing hard, but then again if I conserve my capital I may have enough for both a super gulp and a twix bar at 7-eleven..... decisions, decisions.
Well 7-eleven has been very, very good to me. Down was the play and I have to say I'm on my way to the Quik stop for my twix and big gulp....
Well good thing for the quik stop as by the afternoon that big gulp would've turned into a hot apple bendover. Funny thing is I closed and left then bada bing bada boom reversal day. In fact that would have been "THE TRADE OF THE DAY" I think ET should start a "TRADE OF THE DAY" thread. I think this bull trapping thread is got a fork sticking in it after a "Bear Trap" was on today. Good Luck
Boy just when you threaten to close the bull trap thread down one of the best bull traps of the year sneaks in. Forgot who said this but I always liked it. "Bear markets are when any excuse for bad news precipitates a sell-off versus a bull-market where any good news is a reason to rally and bad news is shrugged off." By that definition we are in bear market. Things are really looking crappy now. Sure we may stick around the previous lows but sure looks again like another substantial leg down in the works. I'm loving this.... We are gonna continue to have violent reactions up for hours to a couple of days but the mass movement is down. Seems to me we may really get a substantial correction before this over. When it's over is anybody's guess but it sure seems to me we have moved from pullback to correction and next will be the official announcement of the 2006 bear market.
We'll see. I'm no guru but I'm thinking this ain't no bottom. I think you're watching another leg down which will break the 6/14/06 low. This week probably not but over the next few weeks I think additional selling is in the cards. JMHO.
Volente? back from the dead? And u still think this mkt trades w/ a 13 handle? wow, I guess if you want to kill yourself in somewhat of the public, this is the easiest
Selling and more selling. The anemic afternoon "rally" in the SPX doesn't qualify as strength. The question is now that we are heading for a test of the 6/14/06 low do we break and if so how far?