For JP: (continued) Another view, JP. Forget about charts and intermarket relationships and other stuff. Let's go down to basic psychology, because after all that is what all of this boils down to. The charts show this footprint but we can examine its historic internal structure. Where is the bottoming phemomena (that is supposed to occur at the bottom of ALL recorded bearmarkets) for the March 2009 alleged bottom? phenomena such as ..... the throwing in the towel, the total disgust with equities, the capitulation, the walking away from anything to do with the markets AND the pessimism so great that it takes considerable time for it to dissipate ... heck, within a week after the March 2009 lows, on 2-4 large green bars, so many of the newsletter writers and others were partying already and talking going Long. Their behaviour is proof that that WAS NOT the bottom, just a bottom aka bearrally low. And if anyone gives the excuse that the bear of 2008 was not a real bear, dig this .... anyone here would have ever dreamed that BofA and Citicorp would be brought to their knees? No sir, on the basis of PSYSHOLOGY alone, the downdraft is not over, rather its only in respite mode. And PSYCHOLOGY provides us with even more evidence as to why this respite mode is absolutely essential - you see the #bulls at the March 2009 lows was very small - the market has to rope them all in again and when they are all aboard, only then can the next leg down begin. Such is the magnitude of the PSYCHOLOGY that we are dealing with. The market's goal is to bankrupt the masses. That is does this quite well needs no proof. Just look at ET, a videogame arcade.
Good for you, chief. This is when your true mettle is tested. Its these times that will shape your future as a trader - mine too. When the HERD is galloping in a frenzy its hard to stay put and not follow. But that is exactly what you must do. Your success (mine too) depends on it. And if we can survive such instances I am positive that the floodgates will open wide and everything I (and possibly only you) dreamed off w.r.t. the markets will come true. I am a firm believer that the HERD's only value is to tell the lion when to strike and not just that, "when to strike BIGGGG!" The way the trading game is played at ET, is for the birds. It clearly underscores their belief that the markets are in a perennial famine - this concept is further reinforced by their strict adherence to the 1 second to 5-min. charts, a fckin recipe for disaster because of the multiple ejaculations per day. And what's more - THEY all trade the same way. their charts all look the same. Just on this basis alone it clould be said that ET is the HARVARD of trading education of "what not to do"
http://www.youtube.com/watch?v=cV5Ju18A8Ow&feature=youtube_gdata_player I can see governments implementing this not just in the UK. If they do, then 10 year top formation will be screwed big time. We will have another huge bull market. I know his proposal is limited by practicality, but in light of what may happen if we have a global depression, they can make it work
Another live one. 50,000 others just like this one at ET. Right-click\send to\Mara river Stoploss level is on page 2, posted July 24 "A blown call would occur ONLY IF the April 26, 2010 top is exceeded by even a hair, so let's just say 11,310" (note: typo error corrected before and included here)
It's official you are clueless. The larger trend is NOT DOWN. In fact, if we are to extend your foolish way of looking at things the Dow has been in a larger upward trend since ... wait for it ... the year 1929. So you think we have a "Trend Violation" in 2009 which seems to be goofy speak for a "Extended Bull Trend that Violates My Theory".
Well, if you look at a monthly chart going waaay back, it's hard to say what's been happening since the late 90s. The Dow could have a head-and-shoulders and the S&P 500 could be a double-top, but it's not clear yet. We'd have to successfully retest a major low or blow through the 2007 highs (don't count on that for awhile) for things to look more bullish. But basically it's been a mess since about '98.
This is absolutely dispicable. Steal from the rich, give it to the irresponsible government and the lazy that created the debt. So the government will be free to run up the debt again! Legalized theft! Only a leftist can come up with such a plan! And this idiotic professor is on public payrolls!
It's actually a megaphone top. I made this one up just today, 'cause I was bored (market was flat and dull today) then googled and discovered it's actually a legit topping formation. More later. It'll be good entertainment, which is what this is all about anyway. I can't even begin to imagine a stop loss on a short way up at wherever this guy put it. Crazy.