couldn't do that on Friday - was stunned and shocked till Saturday. Sitting on losses, didn't really want to talk to anyone - always best to nurse the losses alone - today I'm prepared to do battle again - and have reconsidered my position and where I will take the loss and split. For if the overall top is taken out then the entire count is wrong and therefore all of it needs to be re-thought. Resolution ought to be swift - I mean quite possibly immediately or within a few days next week. Some momentous thoughts next post
You see, this is the very thing that I learned very early in trading - developing the balls to sustain the pressure amidst the taking of the shot that at times came with blood and pain, but I'm there now, really well into the capability of handling the pain and torment. The greater pain and one that I detest or have no way to escape the torment is to have missed the shot that your head, heart and soul screamed and begged you to take and YOU DIDN'T. For such a momentous occasion as what I deem as the TOP OF THE MILLENNIUM it is worth it for me to drop 10-20k in loss-errors in order to catch the jackpot surf-ride for months and months and months. If my analysis is totally erroneous and there is no MILL TOP, I've lost 20k max. I can live with that. - contd -
If correct about the MILLENNIUM TOP, I will be hurt badly just like every other person for demand will dry up big-time, the public's wallet will be locked shut - I make the bulk of my living from closing deals but if the buyer locks his wallet tightly shut due to fear of job loss and overpowering negativity in the air, then I'm fucked, no amount of closing magic is going to bring me the bacon. But being right about the TURN and profiting hugely from it will mitigate the condition named above. But there is another danger in a crashing Empire - you know what it is - just think what can never happen in the USA - and that is exactly what can happen in a MILLENNIUM TURN Revolution unmitigated panic total banking crash ATMs across the board shut down and so on.
Therein lies the reason why one ought to be ultra-careful during the course of the current Dow Jones rally. The market's 3rd wave is the most treacherous entity in existence - this portion of the wave operates on the axiom, "to bankrupt the masses, they must first ALL be drawn in" and drawn in is exactly what this rally has achieved. Volume during the entire rise of 2009 and 2010 was bellowing thru' a megaphone that the rally was a fake but everybody esp. that nincompoop Redneck said its a new era that volume does not matter any more. Then when the latest drop came in the last few months the volume to the downside picked up big-time and these clowns are now re-thinking their asinine, hovine, bovine assessments about volume.
So, one thing is for sure .... If the magnificent deadbroke is correct about the 3rd of 3rd descending on us shortly, know this there is no mistaking the 3rd of 3rd once it is upon us ... the drops will be stupendous, the panic spellbinding billion-dollar empires will crumble in its path there is no escaping it One man that you and I know will survive it reasonably OK and that is deadbroke and that is only because of one reason and one reason alone deadbroke has NO debts - totally zippo debts.
Keep in mind the FED could derail this possibility. They'll move towards hyperinflation before depression takes hold. The gold market is aware of this....but if the FED fails in it's efforts, gold is going to take a spectacular hit as deflation will take hold...and everything will be going down in price. Wages have already been going down for years. Gold, crude oil, cotton, copper - all could go much lower. This is not a definite however.
deadbroke addressing ET is shown in video - note Lucrum (played by Ed Harris) and Leapup (played by Jack Lemon) This is now deadbroke's ET theme video. http://www.youtube.com/watch?v=y-AXTx4PcKI&feature=player_detailpage