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Who wants a great conspiracy theory? I got one!
Okay, what the hell is going on out there in the market? One day it's falling off the cliff, the next it's rallying and everything is great. Actually, lately, any pullback and a clear warning sign of another leg down has been met with an unusual buy spree. For those who've traded for years and hang on the market's every tick of the day, much of the trading lately has been very strange. What 'should' happen suddenly turns into a smack across the head if you're trading the wrong way because your experience of what 'should' happen actually ends up being something that 'shouldn't do that'.
So, what gives?
First off, it could be as simple as a reversion to the mean on a larger scale. Sure, pull up a chart of the DOW or SPX and you can clearly see a monster selloff and extension of the mean average price over a couple of years on a weekly chart. That's pretty obvious.
But, is there more to it? Take a step back to last year when the freefall began to pick up steam around late summer. Now remember that the then treasury secratary was Hank Paulson who used to run Goldman Sachs was all over the place telling anyone who'd listen that they needed money and fast. That money had to come from Congress and at first, died, sending the DOW down 700 points. Remember? Then a week later the Congress passed the $700 bill in two separate packages with each having to be approved before spending it. But that money was SUPPOSED to go to buying off the bad loan portfolios of the problem banks. Remember? A month later, we found out that none of that happened. Instead, they used the money for something else that to this day is still a mystery. Or is it?
Remember how I told you how the market works? Market makers and specialist companies are just your ordinary large investment firms. However, in order to have the priveledge of being a market maker, you have to agree to be the buyer or seller of last resort. That means when everyone is selling, you gotta be buying it from them creating that liquid market.
But what happens if the company you work for has no more money because another division of that company is bankrupting the rest of it? Can you say, LEH, or BS?
Yes, both of them were market makers. Now imagine you wake up one morning ready to trade and you see that there are no bids for your stocks? Can you imagine what the hell that would do to the market psychology? NO BIDS????
Apparently, much of that first $350bill went to these firms in order for them to 'make a market' in the stock market. Also, a ton of it went to pay off CDS insurance policies that European banks bought which they threatened to pull their investments in the US markets if they weren't made whole. Remember the big deal last month about them getting 100% of their money back from AIG when US banks were only getting (or told to get) only 30%? That dies a quick death, didn't it? Why? Because if the public ever realized how bad it was about to get - ie, the entire market having all bids pulled because none of the large firms had the ability to be buying all that panic selling, you literrally could have seen the DOW open up at under 1000 one day in Sep or Oct. Yep! Imagine that.
Every retirement account destroyed. No capital for anything. Depression? No, no, no. Implosion.
The reason why you're not hearing all this from the Congressmen who were pounding the table about getting to the bottom of where all this money went is because they have been enlightened as to the seriousness of what the deal was back then and to let it go because if the public becomes aware of where things truly are even to this day, that scenario could still happen.
Not for 10 or 20 years will this story be told. But what about now? Well, word on the trading desks is going around that much of the money that's juiced the market to this level is also from this TARP fund passed around via the treasury because higher stock prices act to function as not only a calming mechanism, but also allows various companies to sell stock to raise their own money without needing handouts even when possibly much of that money that pushed the stocks up was handout money. It just looks better.
However, much of that stuff has been done now. That stock that got sold off in the initial legs down has been and still is being sold back into the market to investors who are jumping in now. (fools). It's a trick to pass off phony assets to dumb investors.
The market isn't trading on anything fundamental - it's trading on mechanics. No one cares about fundamentals now. They care about stability. The next leg down could be a bad one because those that got caught in the last 6 months without selling aren't going to be fooled again.
The UK today just raised taxes on top earners to 50%. Do they not see history for what it is? With Obama and this congress about to triple the debt to north of $15tril, taxes here are going to get ugly. Baby boomers are going to need their money out of the market to live on. Who's gonna be buying up all that inventory of stock? Especially in this market? Huh?
Don't listen to hypsters. If the SPX hits 1000 this year, it will only be a mechanical thing such as short squeezing, etc. Just watch your wallets.
Interesting short term cycle E-mini setup---
Okay, how about this -- tomorrow, Thursday, if the ES June E-mini is below 835 by 8:45 PST, then it's most likely that it will trade down to 810 to 820.
Don't even ask how I know that.
Just see if it works out.
Look close at the SPX chart and you'll notice a smaller inverse H&S setup with the right inverse shoulder low possibly setting up at 800ish. Being that that is the area of the 50 day and a possible shoulder low, that could spark the next final leg up rather than a fall to 750. So, watch for SPX 800 to be a possible entry point with the target then 200 points off the 875 high rather than the 750 low.
I just can't believe though that the SPX would justify a level over 900 fundamentally. That's why the wave counts here are so important. They are all calling for a next leg down to new lows. But this H&S has everyone talking. If the SPX comes in at an EPS of $60 or less, SPX 950 or more will be extremely overvalued. So, it would be just a technical short squeeze setting up another monster short.
We'll see. Possibly the market is setting up foolish longs in that H&S pattern. Bull trap?
XLB TRADE???
May 14th to 17th seems to be a possible cycle top date. The price target for the SPX would be around 950, so a quick pullback to 790 to 800 (50 day) would be a perfect
b
wave pullback. Personally, I'm probably not going to be buying into this rally. My goal will be to set up short position targets using out of the money puts on various stocks/etfs I'll mention later when we get into May.
Why?
Well, the idea here is that there are three wave counts all working together. You have a 'grand cycle' on top of a weekly wave cycle on top of a daily one. The monthly grand wave count is saying this entire decline was a wave 1. Only a wave 1 from the 2007 high to the 666 low! Yikes!
The weekly count says we just completed a wave 3 down (666 low) which is pushing us into a wave 4 up now. That wave 4 being a corrective wave is also made up a waves in which case is an ABC with the rally off the 666 low to the 875 high being the 'A' wave. The 'b' wave pullback we're in now should fall to 790 to 800 or the lower 50 to 61% retrace levels which then sets up the 150 to 200 point final C wave to that 950 to 1000 target.
All this should happen between now and May sometime. If the grand cycle is correct, then this is a wave 2 correction up off the wave 1 fall.
Bottom line, just expect a top in May and then go short.
BTW -- the fibo time cycle is for this wave b or 2 pullback to last down to May 6 - 13, or 38% to 50% time projecting forward.
TNA chart
I don't understand. C was clearly breaking out of a major downtrend. Then I said jump on board because of just that. Then as I was watching Fast Money, Karen explained the reasons behind why it specifically was running and once you understand that, you have to realize the run was fake. Not because people were piling into it for it's sake. They were running to it because of an arb trade to make money off the spread.
Therefore, the trade was clearly negated by the fact that it was a fraudulent breakout.
Did you buy my TZA calls I posted at $14 Friday? Today they closed at $17.50. What about my BRCM short at $23?
If you follow what we've been talking about though on the SPX board, you know the bigger picture here ---
This is a year that if things play out as it looks they are, you could turn little amounts of money via call options into well north of $50k to $100k. We've been calling the market turns almost perfectly.
This latest one is for the SPX to fall to between the 50 day (791) and the 50% to 61.8% retracement (772-747) and then bounce hard up to 950 to 1000. If I'm right, then this is an ABC with the A wave having now been confirmed complete with today's close. We are now in a "b" wave pullback which sets up an AWE run which matches the run of the A wave. That is 200 points from this pullback's low. 950 is clearly the neckline of a large inverse head and shoulders. 950 - 200 points = 750, so the B wave now could pullback to that fibo range.
That could be a monster buy op in just call options on the TNA with the TNA target to start buying being between $15 and $18. If we get there, I'll be buying the TNA June or July $20 calls. At $16 let's say, that would put those calls hopefully under $2. If so, and the TNA follows the SPX up to 950, the TNA could run to $30, more than quadrupling those $20 calls.
That's the plan at least.
Then the trade will be in reverse in a 5th wave run lower to either the shoulder level of 750 or a new projection low under 666. TZA calls to be used for that trade.
Then the real monther of all trades will be for an Oct 20th to 28th target low.
This is one of those times you get to really make some money.
I don't know, it was breaking out but now has reversed back down. The thing about SOLF and LDK is that they are both profitable and now subsidised by the Chineese government.
So, they should get a big run once the selling subsides.
Yeah, this system as basically two ways to trade -- either you do what you're doing, which many times will get you in a tad too early, but right in the turn eventually, or you wait for the pullback to the SMA as a more refined entry, but less signals.
Today though was the worst trading day of the year. There was no bounce! It just kept going down with basically any long entry never allowing you to make even a point! I had money burning a hole in my pocket and had to make a few trades and al 3 were LOSERS! But the 'system' never was allowed to perform because it never had a bounce in either direction -- it just went down.
What a sucky day. I sold my TZA calls for $3k and lost it all on these f-ing ES trades.
I know this stuff happens, but it doesn't make it any better.
Stupid me.
As for your other question, yes "Sell in May and go away" is probably going to be more true this year than most. However, the Oct cycle this year is WAY more important because it literally could be the lifetime low. With just about every professional trader/investor looking at the same wave counts, a move at or below SPX 666 could mean that all those guys will feel extremely comfortable going 'all in' this time because they will all be counting a 5th weekly wave low which basically means they don't have to fear another leg down to wipe their new longs out.
You think 200 points on the SPX the last time was big? Wait until you see this next rally this Fall/Christmas!
That is, if all things play out as they are appearing to.
S&P update --
Look at it visually--
I can't believe I said that. I was looking at the breakout in the chart. It was pretty clear. But I didn't understand the mechanics behind what was going on. Karen Finerman on FastMoney explained away pretty well as the arbitrade to cover/buy the common and short the preferred on the dilution of the conversion.
Duh.
I didn't buy it, but it did look like a technical breakout.
I think one of the stocks to buy in Oct will be DELL. Why? Well, if INTC is correct that PC sales have bottom (their words), then when the market pulls back into Oct, DELL could be under $10 again. That would setup a monster of all monster rallies because all the pros who all follow these cycles and wave patterns will feel confident they aren't buying into a corrective wave but rather a new beginning count. DELL could double back to the $20s easy. A $3000 investment in a $15 call 2 or 3 strikes out could be done well under $1. Let's say you can get them at $.60. $3000 / $60 = 50 contracts.
If DELL ran to $20, those .60 calls would be $5. $5 / .60 = 8 or 8x$3000 = $24,000.
In other words, you'd turn $3000 into $24000. That's the kind of trade I think will setup in Oct through Feb .
MRVL would be back under $10 and could run to $15+. Same trade. The low volitility in it will keep those out of the money calls cheap.
This chart says it all I think
just bot 5 May TZA $20 calls @ $14.40 each
A lot of people buying May BRCM $20 puts
http://finance.yahoo.com/q/op?s=BRCM&m=2009-05
Look at the open interest. 27k of them with 2700 bought yesterday.
Now, those could be for protection, or at least many of them. But it's getting very interesting.
Market about to reverse?
http://www.decisionpoint.com/TAC/ORD.html
Did you buy the $20s? I bought the $15s. If you bought them at $.35, I'd say, yes start selling them.
This chart is showing the market is about to turn:
When it does and the MACD turns neg, then it's time to start buying out of the money puts.
Hey, this is serious stuff. I really mean the setup is pretty damn clear here. If you're patient, this year could be a monster year for even small accounts. I think when we get that pullback to retest that March low, the rebound off that will so fierce that 3 to 5 strike out of the money calls could be 10 baggers within a week. The low should come in around late Oct. Remember, Oct 28th has marked the turn in the market 9 of the last 10 years to the day. This year has an even more pronounced cycle low around that date. So, save your money.
I'll post the trades I'm going to do in Oct when it comes.
I really think a small $5k or so could be turned well into north of $50k to $100k.
Anyone trading my ES trading 'system'? What a champ it is!
It's an ATM machine.
Remember, plot a 10 period EMA AND SMA. Make one a different color than the other. Then, when the ES trades north or south of them forcing the EMA to cross above or below the SMA, buy/sell on a retrace to the SMA. If it's a cross below (EMA crosses under the SMA), then SHORT the ES when it pulls back to the SMA (or within a 1/2 point or so - just use your judgement)
The reverse is true.
You get at least 3 a day. That's 3 full points a day. You don't take the the trade if the price jams way below both and then pulls back. Use your judgement on that situation.
it wouldn't be out of the question to see it go straight up to that 940 to 950 level to the 'neckline'. But it's totally obvious that the market is losing steam. Right now because the chart is so clear as to the setup here and the cycles coming, everyone (in the biz) knows that most likely this will turn out to be a large inverse head and shoulders. So, because just now that's becoming the most likely outcome, large short positions are being cleared out which gets you that final spike higher when it appears there's no reason for it.
So, pay attention to how we trade right around here. It could be the end of the week or next before it starts moving up again. Op-ex this week could skew some of that. INTC reports tonight and that I think will have a neg effect on the market because it's been the semis that have led this entire thing. INTC I think pours cold water in the face of the hypesters and brings everyone back to reality of what's really going on.
If you look at the chart above, you'll see that there also exists the possibility that we fall now in what would be a declining inverse head and shoulders. That's a very real setup, too. If that were to happen, then for sure we're making new lows.
Tommorrow after the close, INTC reports earnings and the stock looks like it could really go either way. $16 looks like a major breakout point that's held the last 3 days. However, it looks like a possible rising wedge, too. With the indicators a bit overbought, could fall. But with the way the market has been, it could break that $16.20 level.
Want to turn $5k or $10k into possibly $50k or more? Well obviously the answer is with options and the key to that is timing. Did you know -- 9 out of the last 10 years OCT 28th was the exact turn date of the SPX/DOW into the Nov/Jan bull run? What's even more interesting is that THIS year is a MAJOR cycle low due between Oct 17th and what? Oct 28th!
Point is, the 'plan' is for the SPX to run now to between here and 950 making a clear inverse head and shoulders. The cycle high date is May sometime. But as you know within a month or so is fine for that high date. That means it could come anytime and with the downtrend being tested in the market, this might be a falling inverse H&S. But that doesn't matter. What matters is the setup. The key is not to trade this current leg. The key is to wait for the turn of this rally back into a weekly fall into the Oct cycle timeframe. What 'should' happen is that the market falls slowly and then starts to selloff big into Oct really starting in Sep. The low however should be contained around 750 +/- 50 points. That makes a near perfect inverse head and shoulders setup that most likely will be the low because many will buy that level on that anticipation. The difference though this time will be no one will want to miss it like they did now. These patterns are hard to predict on the front of them. But once you see them setup, then you can easily jump in on the continuation.
I'm so excited about this because what I've been seeing is because of the range of most of the larger stocks, far out of the money options are just freaken gold mines. I mean literraly, you can turn $3000 into $50k on one trade in a week. You can buy say, APA $90 calls for less than a $1 when it trades back to $60 on the next market fall, then this time will make basically the same setup inverse H&S as the market overall and break its neckline at $80 which would propell it well north of $100. Even at $100 that would 10x your money for a near perfect play.
ETFs like TNA the same thing. QLD, too. Key low float tech stocks like SYNA. All these things on the next leg down will be MONSTER buys with little money allowing you to nearly 100% for sure triple your money or much much more by year end.
I just feel like I owe to many of you on the MRVL board because that stock hurt so many.
Normally I hedge my plays. However due to the nature of the market's attempt to bottom this year, I think the trades are clearly straight calls or puts.
Look at C. C of all things. Look at its breakout today. $6 and most likely $8 to $10 within a month? Watch how it trades tomorrow off the GS earnings. But anything under $4 could be a monster play and the way to play it is with the $5 calls 2 months out.
Could be an easy double or more.
MRVLREADER -- DON'T DO THAT SHORT BRCM TRADE. I think it's going lower, but don't go in that big.
Instead, look at PDC. I was reading a seasonality thing tonight and PDC came up as a stock that moves up 9 out of 10 times in April through early May going back years. You can only buy the $5 calls. I'm looking at the May $5 for $.20 or less. Might try a bid in at $.10 tomorrow for a couple hundred. Maybe risk $3k. If it goes to $6 ($4.50 now), then that's a $15k profit.
All of these oil and gas stocks have the same chart. All of them from APA to HAL to APC to BHP, to PDC. They are all the same. They are all looking like they've been basing and ready to explode higher. I'm thinking of buying 1 year LEAPS 5 strikes out on each of them. Could be multiple lotto tickets.
Oh, also TRMB has a big seasonal thing going this month through May. It also looks like it wants to move up. At just under $17 now, it looks like it could fill the gap to $20 and then run to $23? Possibly by the end of May. The May $20 calls are .35. If the market does a spike here to the end of May, then TRMB could easily run to the $23 area or Dec swing high. Those would jam to 3 or turn a say, $2500 investment into $37000.
Will it? In this market, anything could happen.
At the time it looked like it was a bad move. But as the market works, you have to change with it. But I still think this is a 4th wave that will/could end violently to a retest of those March lows.
Remember my post the other day about how the MMs now are going to get even or even profitable on all that stock they had to buy on the downside.
too bad you didn't get them when the thing was at $250 last month!
Okay, here's the 'way things should go' over the next year ---
This comes from both Moe Ansari and Tom McClellen (i heard him today on a radio interview):
Moe stands firm we see a May top and then a slow drift into summer (sell in May and go away) with a final last bigtime selloff in Fall. That ends the bear market to give us a final low which will either be a lower low or a higher one than the 666 SPX low. In either case, this current rally is about to end.
McClellen says almost the same thing. I found that interesting. He says his occillator has never had a higher reading than it did on Thursday. That doesn't neccessarily mean it's a top, but it does suggest there's more room to run in this leg up. However, the upside he thinks is limited because although the 1500 point move in the DOW has been impressive by itself, he thinks based on the internals, the market should be well over 9000 on the DOW and especially 900 on the SPX now. The fact that it isn't tells him there's actually distribution going on. (selling high volume into the buying). But the overall volume is not only weak, it's been drying up on this continuation.
He's also telling of a major ugly selloff in Nov/Oct.
Now, I was doing some research last night on these solar stocks. I showed you guys the charts the other day and how they are all clearly appearing to be breaking out of the long term downtrends. They appear like they are on the verge of a big breakout. LDK and SOLF especially. When you look at their charts, they look like lotto tickets down here. LDK in particular was a $40+ stock just last year and now breaking out at $8. The problem? They have been selling shares bigtime via secondary conversions and preferred sells. They did a secondary with preferred stock that converts each of the shares to 25.4 common. That added up to over 40 mill shares. I assume that has a lot to do with the selling.
So, stay away from those. They might actually run on these apparent breakouts, but I don't like the fundamentals to risk it.
So, what to do? I think BRCM is a monster short here. It's weekly chart is above the upper bollinger band, 2 period RSI at 99! and on almost every time period chart, hitting the upper regression channel line. I am going to buy straight out May $30 puts on Monday for as close to $7 as I can get allowing for a great short entry with no time value. Goal will be a buck or better profit.
I'm also looking at SYNA. That's a rolling collar setup. Why? Well, you can't short it because 50% of the float is already shorted. Can you beleive that! 50% of the 40 mill shares is shorted. Talk about a setup. They make the touchscreen stuff in AAPl's toys.
I'm trying to figure out the best way to play that.
The trade here will be to watch the $NYSI and $NASI daily charts (i'll post) for a reversal with the MACD turning south. That will be the confirmation of the next leg down. Right now those summation charts are bigtime overbought. (well, you don't really call them overbought, they are simply measures of the breadth)
But they are in very high levels setting up for big reversals.
If played correctly, there could be some big money made these next few months.
Okay, notice the SPX broke out today (chart above). What does that mean? Well, technically money should start flowing into it for pure technical reasons and I have no doubt that the index runs into the 900s. However, it needs to break 1200 in order to break the current weekly wave count which is predicting a 5th wave move beginning in May.
Now, I have found three stocks that I am going to focus on.
LDK
SOLF
and the big one I think has huge potential is ILMN. Both LDK and SOLF are under $10 with ILMN at $35. Why ILMN? I ran into it today by accident and was reading all their past 10qs and WOW what a potential. What's even more interesting is it's bouncing right now at the 50 day and someone today bought 1200 May $45 calls at .20. Open interest is only 1000. So, I'm wondering with a $20k investment in an option that is $10 out of the money, what do they know? Well, the chart kind of predicts that price range in the current trend if it only runs to the top of the range. Earnings are April 21st. So, it could be interesting. Low float of 100 mill with 16 mill short. Company makes DNA sequencing machines that are all but putting AFFX out of biz. Very interesting.
It reminds me of when I first got into MRVL. It's the kind of stock you can buy, sell calls and buy puts and ride the thing into a huge profit over time by 'rolling' it. The key to doing that is to use a stock that can move in large ranges but is profitable.
Look at this chart of the Nasdaq summation index --
Notice the higher high (way higher high) BUT with a lower high on the MACD. NEGATIVE DIVERGANCE with the summation in near record high territory. Screams for a larger pullback anytime.
Now, listening to Moe's show tonight, he's putting out this point --
If you look back at 2002 to 2003, you'll notice what happened was we got a low in Oct, then a retest (higher low) in March, then blast off.
Many are predicting the same here. However, as Moe pointed out, the wave counts are completely different this time as is the fundamental backdrop now compared to then. That bull market going into 2000 was led by a rush into tech for no reason other than to be in it. That was the selloff backdrop. Now, it's completely different. Now, it's led by a complete lack of capital/credit which as we know is the foundation of this economy. Face it, very few can afford to go out and buy a car or home or other large purchases like appliances/furniture for cash. They finance it. That is hard to get these days. Even in 2002 and 2003 credit was never a problem.
So, here we are in April after having a lower low made in March off the Nov lows. The problem? The wave count says (weekly) we're simply in a wave 4 now. (correction off the wave 3 decline into March 9th).
The next major cycle date high is in May. That implies we bounce around here right under resistance for the SPX (look at the chart above and that downtrend line we have yet to break (a break over 845 would confirm a new leg up)) and then sometime in the next 2 to 3 weeks break it for a final push higher to complete this wave 4.
Then what? Moe thinks that in May, many large investors will stop and take a look around and judge how the economy is recovering - if at all. Is the stimulus working? So far it doesn't seem like it is because most of the money that congress spent or is spending is on pet projects/paybacks/payoffs to donors of their party, not stimulus.
If it appears nothing is working, then watch out below. He seems to be convinced we're headed for a final wave 5 down into Oct/Nov taking out the lows taking the DOW into the 5000s. But that's all predicated on the stimulus not having any effect as companies report nothing to back up that things are getting better.
Many are pointing to the fact that stocks have been going up on bad news. Stocks like BBBY, RIMM, and others that obviously are just too shorted.
So, most likely we bounce around here for awhile and then push higher into SPX 900s. Then it gets dicy.
Remember, 'sell in MAY and go away'. It most of the time works and considering we just ran 1500 points in the DOW and probably have a little more to go, that will be more true this year than any other.
Level 2 is pretty useless now because of ECNs that allow you to hide your orders. Back in the old days (before 2003) if you had a large order and you put it up for sale for example, it would show on L2. That would allow daytraders to see that and basically infer that with such a large order for sale, the price most likely would go lower. That set up a scenario where daytraders/hedge funds could step in front of that and lower offers in front of that order.
That's basically the idea.
Now, if you have say, 500k of BRCM to sell, you place it with an ECN (electronic communication network) like the Island book or ARCAnet or the other big one I can't think of the name right now, your order is 'hidden' in that it will only show 100 shares at the current inside price. That means that it's nearly impossible now to determine much from the level 2 quotation system without really paying close attention to how the orders hitting via time and sales are affecting the current offer. So, if you see 1000 little 100 share blocks hitting the current inside bid which only shows 100 shares, but that MM at that price doesn't budge, you know something is up.
So, you're stuck with price charts.
SHORT DLTR AND AEM.
Or, buy the May $42.50 DLTR put at $1.80
Regarding SOLF, wait for about 3.50 or so.
TRADE ALERT!!!!!!!!
LOOK AT THIS CHART!!!! BUY IT NOW!
All those stocks I said to short did very well today. That aside, here's the way to play the market --
Options expiration is 2 weeks away. Here's the problem right now going long into it -- TONS of calls have been bought by people trying to get even using this rally. Of course it could keep going up. But the most likely result will be that ellusive pullback in a wave 2 to wipe out many of those long calls.
You see, the market has a mechanical thing to it that many don't understand. The biggest one is how market makers and specialists play. If you want to be a market maker, you are required to be a 'buyer of last resort'. Well, this last decline was the mother of tests for these firms. They had to be buying all this stock that was sold to them in the freefall. Well, now it's time to get even. They know based on their trading books what the real short interests are. They now are going to jam those short positions forcing them to be forced buyers which means buying their stock they bought all the way down now all the way up.
So, there's a little game that's going on right now where the MMs get to make money. So, don't be suprised to see the market go higher than you think.
The same holds true for those who sold calls. Many of those are now in the money. Well, MMs don't like that. They are short those positions. So, it's time to kill 'em. Today was a distribution day in the market. With 2 weeks to go, expect more of them to kill the time value with the big selloff days to be next week.
But use that as your long entry into the market. I'll have speciifc stocks to use.
Hey, thanks for that. I didn't know his shows were saved. I only could listen to him when I had my computer on at 3 each day. I'm normally done with the day by 12 or 1.
It's not an issue of whether or not it works - it's a fact. Like I said, you get an average price by using the difference between a high and low. That means you need a 'low' price to get that average. Thus, EVERYTHING reverts to the mean.