The Surf Report--part 2

Hey, sometimes I am right...

 

Nice call on the bottom

 

You nailed it, Pekelo--- very nice!

I am still holding short--expecting bounce to reverse and selling into the close...

 

The flexions are holding the SP higher into the close. listening to the tape, I am placing a stop at 1314.25 ES----will re enter when appropriate if stopped out.

surf

 

Some end of day entertainment from my all time favorite pittsburgh band in honor of Pekelo's exact low call on the session: enjoy.....



<iframe title="YouTube video player" width="640" height="390" src="http://www.youtube.com/embed/euLGj3iOl98" frameborder="0" allowfullscreen></iframe>

 

http://www.youtube.com/watch?v=1INwtmVMgXw

 

There is a 90% chance we rally huge from 1288 to 1305 area in ES


Is your stop still trailed surf ?

 

That's possible. No, not a fixed trail but I'll move it when the tape tells me to.

Best,

Surf

 

Surfers, there exists the distinct potential that this is the start of the great unwinding. Do not despair as the super bull will result after the selling is complete. A glance at the charts to gain historic perspective indicates that the SP 500 rests on the 50 day MA. The 200 day MA is all the way down at 1204 and minor support is in 1249 range. Remember, charts are illustrative not predictive and my use is simply for historic perspective.

Anything can happen but I have an inkling that this may be the birth pains of the coming great unwinding . Staying short.

Best,

Surf

 

Then why would you derive comfort about future prospects from a rearview glance? For someone who does not believe in TA, you certainly place more stock into it than I do.

As an aside, I note that your life is filled with drama, as you only seem to see, and operate in, extremes of one kind or another (the great unwinding, the super bull...).