Stocks fell hard again Friday, as this plunge from May 2nd, our recent phi mate turn date, continues. The Industrials have dropped 593 points since that day's closing high. The Dow sliced through its 50 day moving average support easily Friday, which is not good. That support level should have offered a bounce point, but it failed. That supports the argument that wave iii down is well underway. But this is just the first of a five leg decline for iii, so a break below the January lows is quite possible. If that happens, we are likely headed for 9,750.
Bought a boatload of DIA puts this week @ .08. Nice lottery ticket to bolster my DIA puts from earlier this month. Have a great Holiday everyone:)))))))))))
My Gold play is VERY exciting. Up a large sum and still holding everything. The "F" word Inflation was heard this week:)))))))))))))))
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