All that condescending insulting trash talk for this ? This is what I love about ET, people come in here, talk like freaking gurus then the market proves them wrong and humbles their asses down for everyone else to see. Here's to you.
Professor Bassetti has climbed aboard the bull taking thousands of subscribers with him .... here is an exact quote from him .... Aug 2 "system stop taken out; we bought the Dow, S&P and Qs ETF s and closed our gold hedge. The buy signs were all over the place in just about everything. We will cover them tomorrow morning. In the meantime we think the contrarian backbone may be broken and the bull market may be back on" ------------------------------ back to my ......... Dow Jones thread SHORT call continues unabated
Explanation of the Ending diagonal Triangle pattern The 60-min. Dow charts posted in prev. posts with wavecount are still valid. But I've cognited on something far more sinister. The count is similar to what I've been showing thus far with just one small modification. This is really one of those times when I'm tempted to contact Bobby for confirmation of my thought-ing, but like I said before, when one decides to go it alone, that's the way its gotta be. What I'm talking about is an Ending Diagonal Triangle pattern on Dow Jones 60-min. If correct, this is a gift from god because such a pattern is a TERMINATING pattern and when Price drops out of the lower trendline that forms the triangle, the depth and verve of the southbound move is awesome. In any event, the EDT signals an end to the northbound rally. But only if I'm interpreting this correctly!! If the interpretation is wrong then its a gift from the Devil! coming up ....
The Ending Diagonal Triangle pattern Here's my thought-ing ... Macd would give us the higher highs to confirm Price's higher highs, but she isn't doing this. Instead she appears to be coiling and the coil looks beautiful to me. So she is defo suggesting a triangle. But here's the thing; a triangle at this juncture is highly unlikely unless it is an ENDING DIAGONAL TRIANGLE and since I've shown earlier that the entire rally is a C-wave of 2 (circled) it all fits in nicely. An important feature of such an EDT is the 'throw-over" ... i.e. Price spills over the top trendline noticeably, just to fck with the technician and cause him to mess around with redrawing the line. If this pattern turns out to be right, if/when we get a southbound move thru' the lower trendline it will be MASSIVE by definition, since an EDT requires the move to be swift. I'm showing up at the FRONT with this even if I gotta take a bullet. Uploaded with ImageShack.us
It really does look like I'm the sole BEAR remaining. I don't know what Bobby and Steve are doing? Maybe they've gone bullish too. Now that even Prof. Bass has gone bulish and actually bought Qs etc., I can't imagine anyone being left on the bearish side. But I don't give a fck. My method says stay SHORT. End of story. Dow Jones THREAD SHORT CALL continues unabated and unabashed
Updating the 60-min. Dow chart showing the SAME Ending Diagonal Triangle .... One other thing for you shortimers ... on 60-min., see how the 61.8% fib is supporting Dow? Remember, that is a resistance turned support. You know what that means, right? Just checking. Uploaded with ImageShack.us
Hey guys, check out the following - for reading between the lines of fundamental stuff .... but keep in mind that none of it has any bearing on my technical analysis. When I eliminated fundamental analysis from my main engine the reason was that it lagged Price; that was enough reason for me. But there is the entertainment value reason and that is that funda analysis is loaded with lies, padded half-truths and bs that can cause a fella to make stupid decisions. http://www.marketwatch.com/story/the-biggest-lie-about-us-companies-2010-08-03 http://www.marketwatch.com/story/the-three-biggest-lies-about-the-us-economy-2010-06-29 and as I said before, always make it a habit to go to probably the best site in existence run by an upfront, no bs fella (I'm not a subscriber and don't know him personally, but have read his bio and like the guy, trust him too) ... http://www.shadowstats.com/