Short Term Trading Member Forum

[techcharter]

Opening until 1 PM was a wave 4 flat.

The rest of the day was that elusive wave 5. Now for some of tomorrows headlines to justify a selloff!

1.) "European banks having more problems". It's not more problems. It's the old ones that never went away while the media dre our attention to something else.

2.) "Greek 1 year bonds yielding over 60%!!!" Nobody can run a country on credit card rates, but TWICE THE RATES OF CREDIT CARDS?!

3.) "Gold is falling because stocks are falling" The e-wave count for gold is a complete double zigzag. Short Midas.

4.) "This is ONLY profit taking, and is necessary to shake out weak positions". If ONLY the media cared enough to learn about what they were reporting, the would understand the difference between profit taking and flight to safety.

5.) "Euro is rising on investor confidence!" Little does the media realize a multi-week triangle in the US dollar with one exhaustion selloff to the $0.70 area before a huge rally ensues.