Thats it...the bottom is in...next stop 1300

Discussion in 'Trading' started by retaildaytrader, May 21, 2010.

  1. I thought might take a minute out of my valuable time to post up this chart. This isnt my chart, but one I found on the internet BTW. Im not taking credit for it.

    I found the pattern on this interesting. In 2003 it spiked up and then in 2004 it spiked up again. Doesnt that look like we are repeating that pattern?

    [​IMG]

    Uploaded with ImageShack.us

    This chart amazed me because as time goes on the swings keep getting higher or lower. Interpret that for what you will, just an observation.
     
    #71     Jun 10, 2010
  2. But you were already proven wrong...
    WE fell below 'the bottom' twice already....
     
    #72     Jun 10, 2010
  3. Retail - how come you only remind us of your bull call whenever the market is up big? :D
     
    #73     Jun 10, 2010
  4. I only log on to this site a few times a week and give it 15 minutes of my time which is the amount of attention most here should pay to this website.

    I have been as clear as I can. 1300 to be reached in August give or take and then a big pullback into November.

    Many of you will choose to daytrade trying to capture whatever profits you can and you will fail. The era of trading from day to day has ended. I think Cramer declared that the era of buy/hold was dead back in late 2008, but you should have done the opposite of what he said. If you had done the opposite and simply bought into a basket of diversified longs back when Cramer said buy/hold investing was dead, then you might be up 300% or more in some instances. How many of you are up 300% from a year ago?

    If you scroll through the posts in this thread, you see one part where someone is berating me because LVS had slipped a few percentage points on the day. I think that same person was berating me in another BIDU thread several months back when I went bullish on that one. You are going to see such ups and downs from day to day and trading it will cause you to lose. The best way is to find a basket of stocks you can hold for at least 3-6 months. So I thin LVS will double from here.

    Now I am not bullish nor bearish. I do not see any point in taking sides. I just know what I see and there are certain stocks out there in which are being accumulated on the dips. Since there is a lot of leverage being used, you will see these day to day ups/downs which will probably shake out most traders and cause them to lose.

    I expect BP to be trading in the single digits by year end if the company has not been either taken over by the government or bankrupted. BP will be a buy at 5 bucks should it avoid bankruptcy or government takeover. I expect GS to continue its downtrend much like EBAY did in 2005. In 2 years, GS will be trading way under 100 somewhere around 50-75. It wont go bankrupt, but right now its a broken stock and will continue that way for years to come.

     
    #74     Jun 15, 2010
  5. I saw this chart on the internet on some odd blog and so I did not draw this chart. This chart basically outlines what I think will happen. However, I think it will happen a little sooner. October will not be a time to be in the market because someone is going to try to influence the November elections.

    [​IMG]
     
    #75     Jun 21, 2010
  6. TradeYourWayOut.com is calling for a rally to SPX 1300 - 1350, then the resumtion of the bear market. He puts the peak at around the middle of August.

    There's another guy calling for a rally to DOW 11300 - 11800, then the big dump.
     
    #76     Jun 21, 2010
  7. S2007S

    S2007S

    Futures still showing extreme strength, I think you can go long the open and sell at the close for gains today, it's going to be a boring trading day as they open the market higher and keep it afloat all day long, as for the 1200-1300 calls who knows when or if that happens. Even if it does happen it's going to have to take very strong bullish catalyts to sustain such a move to the upside, of course thereafter a drop of 20%+ is a guarantee.
     
    #77     Jun 21, 2010
  8. TGregg

    TGregg

    No.

    Merely providing perspective. There are many who would say that 9 months is not a vast and rich mountain of experience.

    You may find this of interest:

    http://opinionator.blogs.nytimes.com/2010/06/20/the-anosognosics-dilemma-1/?src=me&ref=opinion

    But I wonder if you'll consider that an insult as well?
     
    #78     Jul 1, 2010