Rallies need sellers and Sell-offs need buyers. Market corrections and price consolidations are absolutely required to continue a trend. A trend is either going to continue or fail off. My point is that a trader making personal rationalizations against a dominant and apparent market price action is stupidity defined. Once you get over that notion and set aside the narcissism and ego and accept that the market could freaking care less about what my opinion is, the worm will turn for you. Let the deep pockets turn the market - take your little piece of heavenly pie out of it, cash out, and await for the next opportunity. I have had the good fortune to both observe live and take on as clients some very talented traders. My observation is that most of them are consummate ambush predators, and NOT TIMERS.
The reality is I have only one account and have never had any other account. Your refusal to accept reality and continually post otherwise just makes you appear thick. However, one might note your refusal to understand markets and continually post the same mindless market calls nonstop for two years is the same behaviour.
SP500 etc after protracted overextension, trend continues to break down and daily is now bearish. Further downside ahead. Informed traders will understand why. Bearish daily & weekly charts: AUDJPY AUDUSD NZDUSD
March 12, 2012 THIS EXCELLENT CALL AND INSIGHTFUL CHART RECORDED FOR POSTERITY. [color=light blue]March 8, 2012 bone ET Sponsor http://www.spreadprofessor.com There is NO competent technical basis to be calling a major market "top" in the S&P. None. ... If I was already long, I would lighten up at 1370 ( last Fall's highs ), 1425, 1500, and short 1575.[/color] http://i40.tinypic.com/33o5gxu.png
Quite frankly, you think far too much of your technical analysis skills. I will go ahead and say it - you get this consistently wrong from a technical analysis perspective. You have no expertise in this field and quite honestly you do not appear to have the good sense to know when to shut up and quit humiliating yourself. We are not in a 'rising wedge'. There is no 'uptrend degradation'. We are in a full blown bullish trend channel, and have been for quite some time ( blue channel lines in chart ). By the early Summer of 2009 we officially broke the 2008 bearish trendline and then began to establish the bullish trend we are currently in. What many T/A's call a reverse pennant ( plum lines in chart ) you call a reverse megaphone - which is fine from a semantics standpoint. Where you get that incredibly wrong is that the upside flagpole rally we started the first week in January of 2012 completely invalidated your failed bearish macro calls. Taking out the highs of April 2011 triggers short-covering and adds fuel. What makes you a flake is your inability to own up to the human condition that we all have - that we all make mistakes, and that we are at our best when we recognize them, take responsibility for them, and move on with our lives in a constructive manner. Your dilemma, and quite frankly your great fault, is that you are trying to establish credibility with your ability to call markets via ET postings and your blog. No one is going to follow someone for very long if they are so obviously wrong and are simply unable to recognize that apparent fact. If some fool is actually risking capital on your incompetence - well, then what a shame. Every Bank newsletter that I get with Analyst coverage where the featured specialist publishes market calls also includes price targets and stop-loss levels. There will come a time when the market will consistently settle below the present lower channel trendline. We will start to witness a series of lower highs. Then go ahead and call a top to the market and recommend fresh shorts. Let the market tell you where it wants to go. And get a grip on yourself. Have you no sense of self-esteem and respect ? Are you not embarrassed ? [/B][/QUOTE]
SP500 etc trend continues to break down and daily remains bearish. Further downside ahead. Informed traders know the rest. As mentioned earlier EURAUD & GBPAUD daily uptrends confirmed. Bearish daily & weekly charts continue: AUDJPY AUDUSD NZDUSD Reminder that SP500 monthly chart continues to give bearish warning and USDX monthly chart continues to give bullish warning. This big picture outlook will not change.
March 22, 2012 MORE EXCELLENT ANALYSIS & INSIGHTFUL CHARTING RECORDED FOR POSTERITY. March 21, 2012 bone ET Sponsor http://www.spreadprofessor.com We are not in a 'rising wedge'. There is no 'uptrend degradation'. We are in a full blown bullish trend channel... http://i44.tinypic.com/2wn4x0l.png
Do you have any concept of how freaking horrendously terrible a twelve percent mistake is, unleveraged, over such a brief period of time is ? Dude, you are like a freakshow exhibit - no personal awareness of how embarassing your perception is... This is what twelve percent, unleveraged, over several weeks time, looks like: This is what a reverse waterfall, corrected for twelve percent, and unleveraged, looks like when you annualize the performance: