TRENDING
I know the question rattling around in your little rat brains right now: Will we have another Dark Thursday tomorrow as depicted in my count as Soylent Orange? Or are we going to complete that zigzag correction I proposed as part of Soylent Green?
Quite frankly, the odds are 50/50. Price would point towards Soylent Orange but momentum on the Zero today, even during the late day drop, was completely flat. So, I would not be surprised to see equities make a reversal tomorrow. I reloaded some puts right near today’s highs (I got lucky) and if it pushes higher I will do so again. Both scenarios continue to point down – snap backs are expected during that [...]
I’m watching today’s gyrations with keen interest. Based on what I’m seeing there are three scenarios – two high probability and two low probability ones – I call them my three little pigs as they all have the same eventual outcome:
Post now free for everyone:
Let me precede the following with a warning: Counting Minuettes is a bit of mental masturbation – just too much tape banging going on to count on such small scale. Which is why I usually don’t but today’s an exception so I’m throwing this at the wall – not sure if it’s going to do you any good but seeing various possible scenarios [...]
Something pretty important happen today – and it may have gotten lost in all the shuffle and it’s my civic duty to bring it to your attention. I am also upgrading the wave count to two not necessarily competing scenarios. Yes, we are pitting bear against bear.
As you can tell I’m the good looking one. Unfortunately the referee had to stop the fight as T.K. broke a fingernail and had to be checked into the emergency room. He is expected to recover in a few weeks. [amprotect=nonmember] Updated count and kick ass commentary below for anyone donning a secret decoder ring. The rest of you guys will have to wait until tomorrow – sorry. If you are [...]
I have to run off to breakfast but wanted to throw out my latest wave count as things are now falling into place just nicely:
We are looking at two main scenarios – aptly named Soylent Green and Soylent Red. The inflection point for red is at today’s lows:
Trading this is pretty easy IMNSHO – and it’s one of those exceptional moments when it may pay to chase the tape down – well, kind of. Let’s start with my favorite scenario – red of course 😉
Red: IF we breach the 1040.78 mark (i.e. today’s low) before we see a meaningful retracement then odds are very high that we are in a third wave and that this [...]
The Emotional Purgatory Of Cognitive Biases – Part 2
