The Cascading Discount Wave, TAKE 2, – Day 7 …
It pains us to have to post dis-Cascading Discount Wave scenario, BUT, price is indicating a failure of meaning as the SPY can NOT CLOSE above 210.00 and HOLD it, hence, we must be heading down to test support levels of meaning (see said S/R levels posted on the Trend Update)??
Wk ending 5/6/16, Down, Down, and more Down Lies ahead, Trend change triggered on BOTH the SPY and Q’s and this says its time to Discount prices and reset for the next wave Up??
Let us extrapolate potential price action for next week shall we, its FUN if nuttin else, u know, speculating and ALL, LOL…
Close on Friday, 206.33, and we’ll use some simple math stuffies to portend future price action??
Wkly average range for the last four weeks, 4.50, that’s with the VXX playing between 15-19 and if the VXX works above 20 then said range will be even greater but of course, LOL…
206.33 – 4.50 = 201.83 (206.33/201.83)
I’m sorry that I do NOT use charts, paper, or all the other TA that da-Boyz have taught the Sheep to use but I like to watch TWO things and ONLY two things, price action and the CLOSE-ing price, hence, all my work is extrapolated using said simple variable, PRICE!!!!!!
That said, I’d like to “FYI” everyone on sumptin dat makes one say, “Hmmmmmmmmmmm”??
On Friday there was a distribution (dividend) pay out on the SPY for anyone HOLDING at EOD, interesting huhh? So, Play-r’s buying at or between 205.00/205.25 into the last hour of trading will have $1.05 per share deposited into dare acct, Nice, Hold on, not finished with the “Hmmmmmm” thingy??
In addition, depending on the price they can get out on Monday, they will reap the gain on said purchase as well and at Friday’s close could be an additional $1.00 +/-, interesting? A GAP up would increase said gain by an addition $0.50/$1.00 and calculate to a 1%/1.5% in two days, yes??
In summary, we never true-lee know why price DOVE into the Close on Thursday and continued lower on Friday, BUT, what a great way for a Fund manager to add a 2% +/- gain and still NOT really OWN da-Underlying security for more then two days?? Just sumptin dat makes me think “Hmmmmmmm”!!
Good weekend ALL…
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