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Looking good so far B.
copper, oil and euro have all made lower lows so far in the futures...long way till the opening bell, but, the odds of seeing more red tmw are higher now that these leaders have offered some follow through...instead of a big gap up green bar!
so i will assume that you are long...at what price to the downside do you cover...and what are you specifically long?
oh and pay no attention to gs...they are up on a rumor that there is a settlement on deck...once refuted or denied, etc...market will use it to slide further
may not drop like a rock till 2:30...taking the curbs option out of play!
i forgot to mention crude...down 2.5$, and bear flag has it going to at least 69$
here's how i see it...copper below 3, euro below 1.20, djt down over 3% now, and euro/yen below 110...usually leads to more down for equities...if somehow the correlation does not transpire, i would have to think that incredible measures were taken to disconnect these reliable correlations..
they better hold it, or else this will get messy!
so a decent break of 1075 would open the trap door up, and the exhaustion sell pressure that is needed to make a good bottom will take place!
102 target?
do you have any other reasons, other than contrarian indicators that would suggest the bottom is in? (for now)
not impossible, as we see that goog and gs have already done that...instituitions are trying to catch the bottom here, and picking the names they like...whether they succeed or not is yet to be seen...dow jones transportation index is down 2.5% right now...it typically does not lie about the overall trend of the market, and for it to reverse and go green, would be spectacular, and the bull would be alive and well indeed...let's see what transpires
when playing options...time is critical...your top call was 3 weeks early...which makes all the difference!
so what is your level to short next, and when? your best guess...
Okay, the last time you issued this board to "mark your post", these were the results...
Posted by: adidas24p Date: Tuesday, April 06, 2010 3:48:51 PM
In reply to: None Post # of 104615
TOP IS IN - MARK THIS POST
The top is in folks. Finally. This has been a great run. Usually I do not call tops or bottoms but this is the top. GLTA.
euro is setting up an hourly bear flag right now...djt has broken the upward trendline already this morning...this next hour will determine how we move on throught the day...
agree blasher...the money that we just saw try and buy this market up, will be equally selling it once they can't take the pain no more...looks more like a down trending day...1075 must hold, if not, then lot's of pain to come!
zero!
copper and euro have made new lows on the year this morning...djt is down over 2%...and dollar has broken out of it's triangle on the daily...which is not healthy for any more up...
3 hourly long wicks for copper would suggest a reversal coming soon.
crude oil, 30min candle stick is insane...with extreme volume. might be one of those very choppy days...where everyone gets wacked...except NM of course!
copper and euro new lod..let's see how long it takes the market to catch on
it all makes sense after the fact!
if you think the market is rig-ged, take a look at crude oil...incredible wip-see-sawing going on there this morning!
that's why i look at copper futures and djt to get the real pulse...less wip-saw, and more honest directional guidance.
copper has already taken out wed. lod, euro almost there...they could be painting pictures...favor the down for now...
copper and euro appear to be pretty serious about this fake sell off
so far, 12:12 edt, futures agree with you...
oil futures at the 89sma on the hourly...third hourly candle, last one was a doji...momentum is up...
do or die right now...break out or break down...
there should be criminal charges...employees were on earlier saying that they were threatened to rate stuff that they knew to be junk as AAA. they said if they did not give it a rating someone else would. and companies who were given poor ratings, would simply go to someone else for a better one...
the whole, "i had no idea" b.s. is being touted by buffett...and yes they did mention the supponea and his majority ownership of moody's...until they say something major in nature, market will not pay attention...
no, Give-me "Warren" Buffett
buffett about to testify...
is cnbc covering the ratings agency hearing at all?
i'm not betting, i'm weighing the odds with leading indicators...the ingredients are present, but whether it matieralizes or not is yet to been seen...
i'm saying that we may not get the right shoulder of this topping pattern...i am also saying that we should be on guard here and now, and not try to catch this knife...a blink of an eye and we will be at 1000, and a close below 937.50 spx would have me really worried!
http://neithercorp.us/npress/?p=512
credit swaps are looking almost identical to sept 2008...brace yourselves!
please keep an eye on copper...it's not looking good whatsoever for tmw...at a minimum we should test the recent lows, if no hold then we will see the weekly 89sma get tagged...
es 988 is that number...
spx 991
qqqq 38.30
if they can not rally it back above 1100 tmw, i would not be too optomistic with higher prices for the rest of the week...
copper futures have already made lower lows, and picking up selling steam...they never rallied this morning with the market, which gave me the clue that the rally would be faded!
check, now what?
finally q's make a lower low from friday! right down to the wire!
every reason to absolutely collapse, but the market is oversold, and put/call ratios say we either need to consolidate, or go higher...so, like we all know, the market runs on technicals, so...this non conviction will lead to one of your higher targets...yawn!
i guess aapl will take this bad news market filled with reasons to go lower and throw it on it's back and climb the mountain!
if dx can clse above this triangle on the daily, it's going to at least 89 in the short term...that should bring es down to 1000 sometime this week...
so what do you see that is good...higher low?