The one main difference between here and the casino is they have security to escort those out who start bothering the real players. No matter, you can post up whatever you want or throw up youtube videos of some guy pissing himself, Ive seen it all and wont be phased by that. I know this call will be right at some point between now and November 4th. Post up whatever you want, but I expect a huge fallout sometime soon.
You preach "patience" but you bought a triple bear ETF !!! Those triple weighted ETFs are a joke they just go down in value with all the rebalancing. Without a clear sustainable market direction you just can't buy those things. In terms of this ETF one week is an eternity.
New yearly highs in the Dow going into election day would be a nice treat for Obama and the democrats.
TA is a fine way to frame the market, but when the FED decides to lower the $USD stocks are going up.
I think I have spelled out from the start of this thread the reasoning for a top. I dont believe I have used any "TA" in this conversation except if you consider two moving averages to be "TA". The one thing that tells me something big is about to happen is Bank of America. Everyday it is making new lows while its competitors seem to hang in there. It is now the end of October. There is some bad news behind the curtains at BAC whether it be their bad currency trades or the foreclosure mess or a combination of them both. BAC looks like Lehman in 2008. I would not be making any big purchases in the next 6 months until the BAC mess is resolved.
I suggest to Structure your leverage and trade size so that if you had losses of 70, 92, 42, 39 pips, your account draw-down would not exceed 3-4%... maximum!
Sorry it wasn't. Market broke your "top" yesterday. Of course you can call another top again and again.
Ho hum, just waiting for something to happen...we have been churning in place for 10 days now. Any comments from the peanut gallery? Uploaded with ImageShack.us