Indeed. Nice call Pek ! My call was for a relief rally...regardless of the winner. Boy, that was not clear thinking.
Down 6% compared to what? There was market gain of over 10% during the uptrend between June and early October before a reversal signaled. The market from Oct 1 thru Oct 31 was only down about 2%. What "trends" are he following?
What if he were up 50% on the year before this 6% down month? Your advice is poor without any other information.
Thanks. It was actually rather easy. The election prediction was based on Nate Silver's blog. You just have to know whom to listen to. The guy with the non-partisan science and excellent track record. The reaction was based on history. We basicly repeated 2008. Big rally on election day, even bigger selloff the next 2 days. (35 pts rally, 50-50 pts drop) Judging by the night's action, there is still more downside left, although we already did -2.7% at the lowest point yesterday.
Friends, After a lack luster year in the performance category, I will be refraining from speculating for the rest of 2012. That is, unless a true special, cant' miss situation is presented to me, if so I will provide color here on the surf report. I will be traveling extensively and enjoying everything until the second week or so of January. I may or may not be updating my twitter feed with the travels and ideas. thanks for reading and see you in 2013! warmly, surf
TA not only tells what is going to happen on the intraday level, it can tell us when an intraday move is the top of the market for a massive move down. That means it will roll right through the timeframes from intraday to daily to weekly to monthly. This set up was screaming to take the top of the market and hang in there for the ride. Earlier I pointed out that for all the digital revolution in the market, human psychology drives the market. The rising wedge patterns that were good a hundred years ago are still working perfectly calling for a market drop. Here's 3 of them... how many invites and proofs are needed? The "elephant" in the chart as I called it (back post), was the real price driver and told us what most likely lay ahead. TA has had a great year and 2013 is going to be the biggest roller coaster ever. Enjoy
Funny, yet you are an avid contributor to the surf report? Marketsurfer's over 1000 twitter followers will likely not miss you. Surf's Handler-- Mr. C