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dapping in some Calls here, very difficult to play long..in a normal situation it would have rallied by miles...
2bit
Boz, don't you guys sleep at all...it is only money...
The Fed will print more...
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This a quote from Carl Futia, the contrarian perma Bull
"You will recall that Moody's is one of the rating agencies that assured the investing world that most mortgage-backed securities were of AAA quality when in fact they were junk. Now they hint that US government securities might be junk when in fact they are of AAA quality. What gives?
The simplest explanation is that Moody's and the other rating agencies are in Wall Street's pocket. Yesterday's announcement was timed to give Wall Street the chance to accumulate stocks sold by those who foolishly took Moody's warning seriously.
Let me be clear about one thing. The U.S. government CANNOT default on its debt. Why?
The U.S. debt is denominated in dollars. If the U.S. Treasury cannot redeem the debt by using tax revenue or by issuing more debt then holders of U.S. debt will simply sell their securities to the Federal Reserve. Moreover, if investors don't want to lend to the U.S. government for some bizarre reason the Fed will be happy to step into the breech. The result in both cases would be quantitative easing on a scale never seen before. This would be incredibly bullish for U.S. and world stock markets, at least in its early stages."
2bit
Helicopter Ben will combat the downgrade with QE3 on Tuesday...think positive...
2bit
The downgrade actually happened just now. This morning's dump was definitely due to the rumour. Not sure about yesterday. But come to think of it, people getting out of stock market to Treasuries because of safe heaven, now the downgrade really means they will have to move out of Treasuries, but to where, back to stocks?
There may be an initial dip, but I would not be surprised to see a huge rally thereafter...
Call me crazy if you want...
2bit
S&P downgrades, shit, another Amageddon Monday coming..
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I kind of concur, OEX 560/SPX 1230ish, there is a sign of life, unless S&P downgrades US rating...
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Watch OEX 550, if it closes above that...it is trend reversal...
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Turtlesoup signal never fails..whether it is a trend reversal signal remains to be seen...
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Well I guess we are all too quick to claim a bottom and H&S continues...will see....
2bit
I am thinking more of the EMA 89/233 magnet pairs. They attract but not necessarily support/resistance. BTW they are also Fib no. So you see, channel/contracting triangle/fib 61.8/89/norm/deviation…all points to 585 area. Unless of course, very very bad employment no then the H&S pattern would be fulfilled quicker than not…
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BT, I am at a lost for waves here. All I know is OEX is 15 points off the norm value of 583 and it must go back. With the help of channels and fibs, there you go, the area of 585 as a target. After that I expect a continuous fall. This is an M formation and is very bearish. It is expected to fulfill the H&S formation eventually.
2xcy
Cute, but I am lost in her curves (I mean waves) there...
2bit
Great call Jerry and Mike, I was also calling for long last day's post only early and feel like my bottom being spanked a bit, but hey it will heal.
Now we are full of TSBs in IXIC, DJI, RUT, FTSE,GDAXI etc....a bounce sure, reversal..will have to wait....day after major distribution day is always a green day.. confirmation required.
2bit
My fear is it will go down to Aug20..today the H&S neckline is broken,,, not good..
2bit
It is not easy to buy when everybody is selling. But being an option player, your pain tolerance has to be above average and timing is important too. I am sure I am early, but I am accumulating, and they are dirt cheap, just like the PUTS I bought at 610.
good luck
2bit
Down grade
Edgar-Jones -- AA
Fitch still at AAA
Moody still at AAA with -ve outlook
S&P -- don't know yet...
rebound imminent...too far from statistical forecast
2bit
EMA 233 is the magnet should warrant a bounce here...
2bit
The rule of the TSB is four days requirement, so for OEX, I am thinking Friday/Monday...Nasdaq just got a TSB and SPX is testing the trend....
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go to Image Gallery under More Tools drop down list and upload your jpig or png files there, then copy the statement in the embedded box and paste it in your post...
2bit
a 20 day low, reversal normally happens within 4 days after the signal.. never fails
2bit
House passed the bill...Amageddon up tomorrow...
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Glimmer of hope, TurtleSoupBuy on DJX, OEX, IXIC and RUT, reverse in the next 3 days...
2bit
The Opium War....
and the eight nations (US included) join invasion of China trying to divide it and own a piece..
You must be a young kid or not a student of history...
2bit
Let's think of it this way. If you don't like what the Tea Party is doing in the GOP and the leftist in the Obama Camp..who else can you vote for?
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I think what the US needs is a third party. You will never get bipartisan agreement with just two...
2bit
why is the bond market rallying?
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Ya, out of my PUTs now, SPX bounced from 9 months trend line,,,watch and see now will reload if it breaks...
2bit
Dow futures now down 140...
I can see a 300 pts down day today...
Ya, make my day....
2bit
Wow, pityful, GDP 1.3% vs expected 1.8%...Dow future down 120...Amageddon...Man
2bit
Remain short........more Amageddon to come
2bit
short in short
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back in PUTs and out again,,, what an exciting day...
will reload tomorrow...
2bit
As my first target was reached, I was out of my PUTS, but I will not go long, I don't think the selling is finished yet. May be short it again at spx 1325ish...
2bit
raise the debt ceiling...
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