The chart is setting up in such a way that there could be a breakout in the future. The way price is descending is telling. I think there will be one more push to the upper line and then another downward push where we will probably get to somewhere in the 1100s. This will take months. Finally there will be a breakout over the top line and then that is the time the new bull market will show itself. Im betting that the credit crisis will not be resolved right right now, but in about 9-12 months when we finally break down to the 1100 level. Now is not the time to be short, but to be long because there will be a thrust forward fooling the shorts and then a thrust back. On that thrust back to the 1100s then you should be buying with both fists...
Then you draw and post a chart. If your going to say lines are not correct, then surely you have an accurate chart for us all.
port, I can see you are into pain, so by all means keep on doubling, tripling and whatever you feel the need to do...One thing I do know, you are a bigger putz than the guy you gave alot of shit to....our man stock...At least he picked a couple winners. You...not so much....I posted this in another of your bottom calling threads....Catching pets is ok, but trying to catch elephants dropping from airplanes....99% of the time we won't here from you again....You bot FNM @ 20! and again, repeat etc....No trader would ever hold something as toxic as that....Nice try piker.
beautiful chart. Price will do this now. The markets are russian dolls and they echo. When a an uptrend occurred in a certain fashion, it will repeat in the future. This is the case right now. Price will now go above the blue line, maybe do a failed break out. THENMAJOR CRASH right through the green channel line, go back trhough it again to the upside, creating a point 3 of an agressive down channel. Then it will go through the brown lower channel line which will be THE LOW of the sequence. We're going down, we're going down so agressively after price does a failed breakout of the green channel in 2-5weeks from now.
No matter the count or cycle, whether the consensus is we're in a prime or sub-prime bear market: that monthly chart clearly demonstrates an A-B-C irregular correction just having begun. Not only will the impulse base channel be broken, so will support at 800. The short answer is: outside of scalping intraday noise to pay the bills in an illiquid forward contract, there's no reason on Vesper's red unholy hell to cover shorts.
Nice chart, and great minds think alike, or something. I was editing while you posted. I don't piggy-back, for the record.