In some ways you are correct. I shouldn't act like this. But i came to ET with an attitude to crush a loser who was making false statements about a good friend of mine's website. I did crush him, but in the process I developed this immature, arrogant tone and i guess i just kept it going. Then when the maggots see me getting predictions correct, they only fueled my "character". In real life, i'm really a humble guy!
It was a respectable chart call. Its easy to see on a chart that it has to climb over 1331 in order for it to go higher. I watched this thing stay at 1327 all day long and then suddenly, slam!, it all came apart. Now the key part is how the foreign markets will react. If the reaction is very negative, that could set us up for further detioriation tommorrow...
Thank you. The odds of this call being correct went from 1% last night (with the futures up +9), to maybe 3-5% now. Hey i got the same chance as a hold em player who needs his card to show up on the river.
I believe the market is in for a correction that will take 2-3 months of time. The S&P will correct down to slightly below the 50 week moving average. That is my call for now and the 50 week moving average stands at 1315. On the chart it makes perfect sense and it will feel painful to some folks when it does happen.
Bears are right, bulls are wrong. Do yourself a favor and review the message logs. I am going to take a vacation after this trade...
Heh. Ever see one o' them poor Down's types, square head and all, really concentrating and "thimking" about how to tie their shoes? Reminds me of thorny looking at charts and making calls! Jez messin' with ya thorn-boy! Good trading!