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S&P off 26 points for today to settle at 1234 and the Dow Closed below 12000, long term target for DOW is 10000 IMO.
Link. http://www.elliottwave.com/tutorial/Lesson4/4-2.htm <--This is called "predicting the future"
As I speak market down 129 points S&P down 17 points.. Need a much bigger drop for correction.
Market technicals indicate S&P will settle to 1220 or around that area..... Shorts can make some money...
Not all humans trade stocks. BOTS do as well.. You will learn.
If you are dumb with your money, you go broke, start over. That is capitalism. There has to be failure in order for there to be capitalism. This is what bulls don't realize. Nothing continually goes up and up and up and accumulate more debt and print more money without consequences. Derivatives are going to make the bankers fail, its a matter of time, then we will start over.
Excellent Article. Link Forward http://www.marketwatch.com/story/end-times-for-the-euro-zone-2011-12-07?link=kiosk
Stocks to Watch: QID, DXD, and SDS. All are short the market. Because I don't trade on margin, I can't short the market. These 3 ETF's will put you in a perfect position to short a whole sector, shorting individual stocks is extremely risky.
Awww.. Look at the poor "market rally" Again.. Market goes up over 100 points and ends at 40 plus.. S&P is having a hard time moving over 200 MA.. It's like someone hitting there head on the walls.. Once you keep hitting it, your bound to fall... You don't keep trying......
Market is preparing a big move.. Side ways trading for S&P, the move it's going to make is what I have yet to figure out.. Consilidation could mean a move towards the upside out of the channel its forming.. We'll see sooner or later.. Maybe by Friday.
Good Morning. I would stay away from Apple for the time being. Looks as though it's putting in a lower high to me which would indicate an overall down trend. I wouldn't blame it on Steve Jobs passing but some would.. The overall meeting at the EU summit in a couple of days should be very interesting.. As I believe nothing will get done. Having more than 15 countries agree to a term is funny to me.
The market is tired. You can tell. My reasoning. EU just said they are thinking about creating two bailout funds. Another bail out fund worth 500 billion and the market goes up to a high of 117 points or so only to lose half of its value and close slightly above 55 points. The market needs new bag holders. S&P having trouble with closing above its 200 day moving average. Interesting moves for the rest of the week. If anyone can pick up FAZ and TVIX while you can. It's a sign when VIX and S&P both close green!!!!!!!!!!
By The Way Italy is planning $40 Billion in austerity over 3 years.
BUT they have $400 Billion in debt to rollover in ONE year.
That is like trying to blow up a tank with a straw and spit balls.
The market won't look at it as "concrete". The media will spin the news to a positive. It all will come falling down soon.. Look at charts... tic toc tic toc
Thank You.
banks have been used to enforce a form of slavery. There is no reason any man (or woman) should pay above 5% for a loan. Poor people are kept in slavery through artifically high rates of interest. It is a national disgrace that a large segment of America is charged 20+ percent for loans. There are places where people can cash their paychecks for a highly discounted amount, how can these people ever get out of a cycle of poverty? Our entiure system stinks and we the people continue to allow it. We keep electing the same politicians and status quo never changes. Read about Andrew Jackson and the bankers. We have had leaders in the past who took on the banks and chenged history. Banks make money on loans on money they don't have. Therefore the rate should never be above 5%. If a person has a bad credit history don't loan them money, period! Charging the poorest people the highest rates is criminal.
Our beloved governemnt.. It's crazy how they manipulate markets and congressman aren't considered "insider traders" Not to count the tax that starts in 2013 taxing ALL 401k's anywhere from 3% to 8%!
The rich don't have 401k's! Just the middle class, if that isn't proof enough what they want to do nothing is!
Nice Chart.
Not a Big Fan of Apple (AAPL) if you could short here, I would. Market needs to be corrected before heading up towards 1300 then a market crash after that. Rinse, wash, repeat.
Pittsburgh Chillin.. Aliquippa native.. Just started a board.. Post to it when you have free time. TIA.
Love your picks. I just created a board, would love for your input in your free time. Randomness is accepted. Have a good Day Sir.
Currently playing FAZ, long term target above $100 short term target $60. Short Term is by the End of December. I don't believe in XMAS rallies.
S&P issued a downgrade warning, which means markets will be "prepared". On a technical analysis S&P should go down about 90-110 points from where its at.
First Post. Plan your trade, trade your plan.
Good Evening Langlui,
I am creating a new board and I "adopted" some things you have in your ibox. I hope you don't mind. I would appreciate if you could help moderate on your time off. My goal is to take a lump sum maybe $20,000 and post my trades throughout the whole year of 2012. TIA.
I'm moderating a board for 2012. I would love to have you help in your free time. TIA. Board is called "Learning as I Go".
Thanks! I just looked at your message, smh. Picked up FAZ on Friday at $40, looking for $60-$70. Something tells me a big reversal is coming, just don't know when..
Patient. A word that needs to be used for this market. Thank You Sir. I follow you alot so keep up the good work. God Bless you Sir.
So Does FAZ, are you playing it by any chance? Financials don't particularlly look to strong.. I've been tracking FAZ for the past 2 months. I just looked at ERY yesterday, (as I love playing ETF's). I don't believe the price of OIL is sustainable, as people will soon complain about $3.80 worth of gas. Crazy how $3.60 worth of gas is the "norm".
I understand. It's just very odd to see so much of a market movement on such low volume. If they are panicking over 11500 dow i wonder what would happen if it went to 10000. *sigh* Oh well.. Ride the Waves.
P.S. Hamburgers will be $8 sooner than later. (and that's at McDonalds)
Love your chart up in the box. Do you continue to see a downtrend on the S&P?
Low volume on this rally. Doesn't that scare you? Which means.. IMO.. When it falls.. It will fall hard.
I may just be the only one who is still holding this :/
Just realized that when I called Scottrade, I don't believe the lady specified whether I wanted to do it pre market or regular.. (calling back now)
Lol, I have a buy order in at $1.02 and still not being filled!
Good Point!!
Is anyone holding?!
Wow. $1.00? You gotta be kidding me! The news isn't bad, it's really going to be manupulation out shorts are going to try to do everything they can to keep it down.
So is it approved or not?
I haven't seen it either. I watch L2 enough to know. $8 on ask looks well.
I'm sorry but I don't understand 10-k forms. I'm still in the process of reading them in the correct form and understanding what it means. That 10-k that was released good or bad?