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Essential Charts Update
With Manic Markets, it is crucial to evalue both long and short term charts and levles often. We wrote of the Squeeze set up three days ago. Once again, the markets bounced off the support levels, and fooled too many of the new “smart” shorts. Our long term scenario is intact, and we still believe the big dynamics on the downside will evolve later this autumn. There is a big risk of a Collapse happening, just when everybody is sucked into the long trade, and shorts have given up. For now, let’s review the short term charts, all hitting resistance levels. Let’s just wait for Biggs to turn bullish, again.
SPX
Stoxx 50
DAX
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I'd like for you to show me on a chart the technical set-up for a "big collapse." Or are you listening to the news again, you naughty boy?
Here here philipat. I've just pressed cmd - on my mac and can feel the heat from my cheeks. What a twat I am Lol.
Thing I noticed this time is that small stocks got squeezed way up this time. Usually it's S&P500 stuff, but this time Russell 2000 type stocks, volatile stocks, and fat beta stocks mpved early and fast. Like someone pancked the little guys and then swooped in to take the marbles. So i am looking for relative strength on the 2000 until the little guys return. Which could take decades ...
I have a VXX chart up on: http://stocktwits.com/AllanTrends It shows a normal consolidation in a huge uptrend in this measure of voatility. I suspect VXX and its derivative, TVIX, will both double, triple again in the coming months. I'm holding through these consolidations, there is too much reward on the upside to miss by trying to be cute trading in and out of a historic decline in global equties.
Charts can be useful. Try these out. Some of you know my stuff http://bit.ly/p24QHI
RINOs list: let's Reid block all amendments til the end
Brown
Burr
Chamblis
Cochran
Collins
Graham (Goober)
Issacson
Portman
Sessions
Shelby
Snow
Voted by a simple majority to let Reid block bills from here out.
Funny how Reid's destruction of the Constitution never moves this pig. He just did it again.
On the Chinee suks bill.
No amendments or speaking, or cloture.
RINOs caused it.
Sell anything in ChineeLand.
I'm waiting for the next double nipple formation before I short by way of TZA. Meanwhile, my TNA looks good.
That's how you trade this pig.
You'll only need to wait a few more days.
What's next? Torch the shorts! There has to be 9 billion left to cream!
Can never read the first chart because of the right side ZH bar, which can't be closed?
Your browser probably. Go view...zoom...decrease to 75%.
Long term, common stocks are ugly no matter how you "view" them ;-)
that's one way to do it.
but what i do is right click on the graph you want to see and choose "view image".
that way you can see the graph by itself in full size.
then just hit browser back arrow to go back to article.
this is for firefox but i expect internet exploder has a similar option.
Hey Guys, thanks for all the kind support. Sometimes I think I am quite good with this stuff. Then I realise I truly know shit!!
Thanks for that buddy. I never thought of that (Duh....)
Make sure window is active and pointer is over it - hold the Ctrl key and rotate your mouse wheel (on newer systems).
You can shrink and grow your icons that way too, if you click on the desktop first.
Also try the printer friendly version button at the bottom of the post.
If that S&P chart was inverted, you all know everyone would be saying buy the shit out of it. It's a breakout no matter what it does in the short-term.
Right. Now show us some Astral Charts so we can make a really good pick.
I was doubtful of a continuation of the slide, so I promptly closed my IWM short the morning after it broke to a new low and thus timed it against the ensuing short squeeze quite nicely. I am looking for a better formed right shoulder on that glaring topping pattern. Maybe that starts now for a few months?
I'm making a public record of trades; I forgot to publish today that I cleared my Dec. Long Silver position at zero loss at $32.065; it's been a terrible drawdown; I'm glad to get out of it. Not really on topic, except that it does say trader.
Silver going down to $25 near-term. Don't forget to sell your BAC and F.
I have been nibbling on AGQ long for 8% so far. The CBE currency attack announced this morning helped complete the squeeze. SLV/SIVR smack at resistance now. Very small position, but may close tomorrow.
I am truly amazed at how accurately the charts predict the action...until they don't. Oops!
But seriously, for nimble traders, the charts have proven to be right over and over, even in this manipulated market. Just remember, the operative word is 'nimble'
It's not so amazing if you think that the bots have charts built into their programs. Of course I don't know what's in their programs, but who would write a trading program that doesn't account for the charts.
RoBoMoMo 9000
Chart is clear, it's going down. Buy at 980 or QE3, both will happen within a day or two of each other.