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Have No Fear
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Have No Fear

by The MoleNovember 27, 2009

Have no fear – the PPT is here:

This, my dear ladies and leeches, is how putting a floor underneath the market looks like. For the noobs – the support line you’re seeing is the VWAP. Curiously, after a 30+ drop in the ES futures over Thanksgiving  this line is holding like the famed Chinese wall.

Although I was getting some flak from one facetious poster let me reiterate that this is actually long term bearish. Yes, they did put a floor underneath the market and yes, it’s possible that all the ugliness will be gone come Monday. But if you look underneath the hood – A/D ratio is at 0.1 right now and was 0.05 earlier:

Let me repeat – we just rallied over 20 ES points with an A/D ratio below 0.2. – that’s right. So we all know who’s doing the buying right now – none other than the PPT. Futures now approaching 1100 again on no participation.

But longer term this is actually very bearish – come Monday there will be very few stops to run as the bears are not believing this drop. Remember what we’ve been talking about for months now – the market won’t roll over until the bears have truly given up. The spike up today tells me that there are very few bears left – at least none of them are trading today. And even before this ‘Dubay catalyst’ (you all know how I feel about the news) the tape was in the process of rolling over. So, let’s see what Monday brings when the tape is not so easily supported by the weekend crew. If nothing else this drop has probably rattled a few nerves – I’m sure the MSM is already switching into sugar coating mode.

Forget about these crazy temporary gyrations – focus on the longer term picture. And for that you might want to take a peek at my ISEE related post yesterday. Yes, that’s right – while you rats were tripping out on tryptophan I was working my little butt off 😉


About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at the usual social media waterholes.
Enjoyed this post? Consider a small donation to keep those evil deeds coming!

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  • Niktus

    Thing is, I have been focusing on the long term picture for a long time. And actually thought this was it. The beggining of a decent correction. And while I keep my eyes on the charts, they reduce my account. Frustrating to say the least.

  • LogansRun

    Look at the tape rats – we might close positive today

  • bshah

    what are you talking about Mole…? BTW, PPT if buying all these, like every single company in the fucking world..? I have 20 tickers on my scottrader and you know, MA/DECK/BIDU/GOOG all dropped big and now they are like positive.. What do they after buying all these.. We say that they are in place from March, so what did they do with all these shares..?
    Now I know why you say “Newwwwwws don't matter”… In US atleast it will never..

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    calma rapaz, estão a puxar alguns bancos a ver se passa

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    well when the FED owns all of the stock (as collateral to failed banks loan) you'll have the yankee union of socialist republics, maybe there's place for venezuela et al

  • I_got_Prechterized

    Amazing stuff, we're down less than the pre-Thanksgiving fluff from earlier this week. Gold with a $50 dollar pop from overnight lows. Unfortunately, just as the US consumer won't stop spending until they're tapped, the fund manager chasing benchmarks won't stop buying until they're wiped out. The day of reckoning is coming soon. I'm guessing several countries will default on their soveirgn debt in the next few months.

  • labdude

    This is irritating–glad the market closes early today–other wise it would end up positive (and still may).
    PPT PPT PPT hard at work!

  • Bankrupt

    For every Dubai, there is an Abu Dhabi.

  • Tronacate

    Buyers were licking their chops with this dip…….but this Dubai deal shows the truth of the global economy condition……..

  • observingguest

    Something tells me that the bulls will look back on “buying opportunities” like today and say “what was I thinking”?

  • Bankrupt

    The truth being that more or less anything can be bailed out when using fiat money.

  • https://evilspeculator.com molecool

    Was thinking the same – give them enough time and they will close this fucker in the green.

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    well, in real land (spx:gold) we're already below 0.93, we already had 15% drop since august

    makes you wonder?

  • bshah

    that would the most proud moment for obama/tommy/buck ben.. won't it.. Then essentially they will declare the war on world markets and regain financial capital of the world for another 1000 yrs.. he he…

  • Tronacate

    Don't think green……..all the talking heads say it's “just a blip”…….I say bullshit……the positive spin is starting to show its transparency

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    tell me about it

  • I_got_Prechterized

    Unfortunately, America's Abu Dhabi is China and they won't be there forever.

  • fuw

    Interesting to see what happens here, with the first retrace of the day. Was the morning action a bearish flag?

  • Tronacate

    C'mon people……you knew this gap was gonna fill some……this is a ripple effect

  • observingguest

    The h & s bottom in tza is looking more beautiful by the day.

  • Bart7

    European markets now up over 1%, are my eyes deceiving me?
    http://finance.yahoo.com/intlindices?e=europe

  • Tronacate

    There ya go…….impulse and flag…….let's not freak

  • Bankrupt

    No? Where will they go?

  • Bankrupt

    could be, euro markets were hammered already yesterday.

  • Scoops

    Not surprised by the ramp job whatsoever. I agree though, the dip buyers are out in full force, which is to be expected when one looks at the sentiment. PPT doing a bang up job. If only the media published a/d ratios with the same graphics, flash, and pomp as the indices themselves.

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    nopes, since 10 AM this is pure GS WAVE

    the corrective ABC ended then and there

    this is manipulation at its best

    (check gold and count some counts, it helps)

  • Bart7

    but they opened way down today it appears

  • bergs

    Mole

    Would you consider this a possibility?

    http://screencast.com/t/YjY4MWEwNzUt

  • https://evilspeculator.com molecool

    Damn furreigners…

  • tradejane

    Yup. 200 pt reversal on the DAX.

    Unfortunately I've been through this before, that's why I wrote yesterday:

    ———
    If there's one thing I've learned from those “holiday crashes” is that anyone who expects a grand continuation the next day might find themselves sorely disappointed…
    ———

    At least the painful lessons of the past are of some use now.

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    berg, an expanding flat for 4 would like a longer C

  • fuw

    yeah they opened down today and gap filled quickly, but also went down >3% yesterday.

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    just repeating what i said on the other post

    PPT is pushing some banks (that they already own) and hoping dip/dumb buyers take the lead

    p.s. the FURigners part was sweet

  • bergs

    Got ya, thats why I put the ? mark by (iv)

  • http://www.facebook.com/screasy v8muscle

    Rebought the IWM puts I sold this morning. Essentially shorted them for like 25%. Also took profit on CHK longs. Added VLO Jan 17.5 Call, looking to get more IWM short if I can.

  • Niktus

    Ja me tinha esquecido que eras tuga. E provavelment o Autopsias… 😉
    Look at this http://screencast.com/t/ODFmOWY4NWM
    Cant make sense of it. Is this data correct?

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    ladies and rats

    spx:gold still falling
    bpspx will likely break the 13MA

    monday will be fun

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    autopsias and 5 or 6 others

    the data is good, plunge protection team boosted/held banks (look at C) and is waiting for dipbuyers to take the hint. but most stocks were not

    p.s. what's the current AD ratio?

  • http://www.facebook.com/screasy v8muscle

    Bears be careful. Its a good place to add up here but TICK making a higher low so gotta watch out.

  • Tronacate

    Russell just backtesting neckline after the break……..240 min bar looks like a 2 with 3 to start

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    ok, been browsing the action

    from open to 10 AM PPT picked up the banks and took them to safe zones and stoped pushing, concentrating on ETFs and some stock

    fine gameplay

  • bshah

    Is BIDU good candidate for short..? It recovered almost $17/-..

  • http://www.facebook.com/screasy v8muscle

    Since when has Gold been this volatile…. lol

  • http://www.facebook.com/screasy v8muscle

    yes.

  • http://centrifugaldeforest.blogspot.com/ Centrifugal_Deforest

    Quick synopsis of my thinking and plan of attack here…
    http://centrifugaldeforest.blogspot.com/

  • Schwerepunkt

    Just realized I have the wrong contracts on my streamer for Nymex CL, NG, and GC? What is the letter designation for these Jan 10 contracts?

  • Bart7

    Amazing, bears hit record lows on Investors Intelligence Sentiment this week, 17%. Bulls back over 50%…
    http://www.schaeffersresearch.com/streetools/ma

  • bobthehorse

    would be CLF0, NGF0, etc

  • Niktus

    Currently at -4.2 with a single green doji on the 5m frame

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    since it became the adjustment for the market that wouldn't stop climbing

    it's the hiden crash

  • fuw

    Looks like spx 1094 might be the tipping point right now.

  • Schwerepunkt

    thanks, figured it out finally. I should find a list of all these contracts throughout the year. Cant' find a comprehensive list at CME/NYMEX.

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    the market is toast, dip buyers aren't taking the bait…

  • Eva S

    You mean bears are not so intelligent? LOL

  • Bart7

    that's the most extreme low bearish sentiment I've ever seen on that indicator…
    I think it hit 19 to 20% at the 2007 top… now 17%

  • centerline

    Hey all. I am thrilled to see the fractal still in play. Even a minor flat or “up” day on Monday would still fit. Liking the VIX movement as well.

    We can't be too disappointed that it is not a “Black Friday” the way we wanted to see it. This rollover is right on schedule. I admit I had my hopes up for a 3%+ dive today. It is so overdue, it is just not funny. This beast is clearly running on fumes.

    BTW, it sure seems funny the timing of the news. What a manipulated crock. That was put out on T-day for a reason. Not coincidence. Give me a break.

  • http://www.genxantihero.blogspot.com LostIllini

    Bought some SLV….buying this dip was bad?

  • rikardo_kurvio

    this thing is overbought vst.
    but I'm aware of some october similarities

    naz100 futures daily
    http://www.screencast.com/t/ZjU2YzFjNWEt

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    if market crashes, silver and gold go separate ways… silver is more comodity, will crash with equities

  • centerline

    Where are the dip buyers now? Ha, ha, ha.

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    of course bears are dumb, the consensus exhists, the science is settled

    BULL MARKET

    p.s. hamsters have tiny tiny brains, even dumber than bears

  • http://www.genxantihero.blogspot.com LostIllini

    not buying crash just yet, but Silver makes a pretty good upside hedge for my IWM puts

  • observingguest

    In theory, all countries attempt to manipulate markets. However, the asia pac countries have been in the lead and falling the most. $nikk has taken out its October lows and is zeroing in on the July lows. Apparently the manipulation isn't working. Europe appears to be following asia pac then the US with catching up to do on the down side.

  • goldpackers

    spx above 1096 means spike up Monday

  • centerline

    Apparently, little mechanical hamsters are the big thing for xmas this year. LOL.

  • fast996

    This huge rising wedge has been confirmed by the Gap down this morning. Now this “p” for phony rally will attempt to fill these gaps somewhat. The technicals stink and there are many boogeyman lurking so my guess is we have a mini or maxi crash next week.
    fast

  • I_got_Prechterized

    right there on schedule.

  • centerline

    Oops. There they are! Don't tell me this mid-day blip was an ABC. Oh well. A down day is still a down day and the fractal is in play!

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    i think I posted a link some weeks ago 😉

    they're STAINLESS STEEL and they'll take over the world

  • TransworldDepravity

    Yep, I had a feeling it was corrective also.

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    GS WAVES rules and guidelines

    1. if it is a drop it's corrective

  • https://evilspeculator.com molecool

    Finally – have benn waiting for this moment. BTW – did not know this free link 1++

  • Rd99Hse1

    This might actually be a robo-pogenic bull market!
    Humans have too many emotions; let's call the lemmings robots as well.

    ROBOPOGENIC (patent pending)

  • https://evilspeculator.com molecool

    What's a 'drop'? Are you referring to a matrix anomaly?

  • https://evilspeculator.com molecool

    Oh robot strategies are the ultimate lemmings – you will see soon enough?

  • centerline

    Oops again. Dip Buyers passed out from lack of oxygen (altitude sickness).

  • Rd99Hse1

    Monday debacle?

  • dollar

    BKX new LOD

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    oh no master! I love the big brother, there are strong rises (doubleplusgood) and lesser rises (thoughtcrime they look like drops)

    but there are no DROPS. it is a regional phenomenon, it's rising somewhere else right at the same minute

  • fast996

    $DJR new LOD too.

  • centerline

    Now thats a f***ing close. Haven't seen one like that in awhile!

    Alright, got to go fall off my house now (putting up lights today). See u guys/gals later.

    Mole, thanks again for great posts and a great place hang out.

  • TransworldDepravity

    I was referring to a retracement wave. What the heck are those called?

  • I_got_Prechterized

    Black Monday setup. Greece defaults over the weekend and this sucker's done.

  • dollar

    highest volume bars of the day were the first and the last, both very red

  • rikardo_kurvio

    nice finish. i entered some short ES cfds

  • fast996

    Gap down and a “abc” irregular as the c failed to go above the a. All I can say is falling pianos don't bounce!

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    correctives come into different flavours, zig-zags, flats, triangles

    was that what you wanted to know?

  • shortcover

    all in all, what i expected today…had expected -200 tho. monday could be ugly…

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    anyone here believes an eurozone country can default by all by himself?

  • omelette

    vix gapped up and closed above mid bollinger. nice. let's see if it runs up to tag the 3.0 (red) within 5-7 sessions this time like it has been doing after closing above the mid.

    http://stockcharts.com/h-sc/ui?s=$VIX&p=D&yr=0&

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    you know, you are right, but slightly different, what you call A is in fact b of B, it's usualy highjacked (and a of b controled) to make it look like a crazy 5

  • TransworldDepravity

    Yes, but I saw 5 waves up from the low this morning on SPY and then a 3 waves down from the high at 11am. How would you count that and what is the correct terminology to use?

  • kanur

    Impeccable timing. As usual.

    http://www.bloomberg.com/apps/news?pid=20601087

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    my oh my! do they grow at this age, it seems just yesterday he was barely 20 and look at him now, already 25 and probably 36 soon

  • goldpackers

    I agree. Above 1096 spx concerned me ST but that was a failure and should at least test 1066 to 1070 Monday

  • goldpackers

    Believe an ABC off the low with a failed C wave. Bearish.

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    it's a matter of creating and containing an expanded flat on B

    you count ABC up (3 waves) then an ABC down starts BUT you don't let A fall too much, and you pump B beyond the initial ABC

    grand total, 5 waves up to the top

    now the expanded flat asks for 5 waves down, but when you get to 4 you push it just enough to violate w1 down and force a 5th failure

    you see it all the time lately

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    he's still keeping 90%, he believes he can push the C… hummm, but it might mean it will take some time or not too sure

    unless with the buffet story he also has an informal agreement

  • Niktus

    What a freaking coincidence… Not!

  • kanur

    Depending where he got in, he could sell all the way down and still laugh all the way to the bank. Wait, he is the bank, right?

  • TransworldDepravity

    You'll have to excuse my ignorance, but would you be able to chart that?

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    well try and enjoy the weekend and ignore the futures, they'll pump and pump till they can pump no more

    the april fall was made of straw, the PPT blew and it failed

    the june fall was made of wood, the PPT blew and it failed

    this one seems made of bricks and mortar (without rooftop)

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    he didn't get in, he has options in the 80's (it's in the article)

  • gmak

    I just got back and I'm seeing SPX essentially flat sinc around 13:00 EST, but ES is moving up and down. Is this valid? Or do I have a data feed error on SPX?

    Thanks guys and gals

  • gmak

    Are the US markets closed?

  • Tom_27

    yes, US cash markets closed at 13:00 today

  • http://bullorbearwhocares.blogspot.com/ jamesmarkii

    went short at 1095 today
    im feeling good about it.
    im covering around 1040, give or take 5 es

  • http://bullorbearwhocares.blogspot.com/ jamesmarkii

    http://www.screencast.com/users/JamesBrrando/fo

    so bullish….

    oops

    not so much

  • http://ethicalcheating.blogspot.com/ The_Grim_Reaper

    Two scenarios, one bearish, one bullish. Just don't get burned guessing which way it goes right now. I favor the bearish scenario for the time being because my signals all say sell, but I am not sure until the bears break 1017

    http://3.bp.blogspot.com/_HI9vMxcgcpQ/SxAu-fjvG

  • Gerbil_gold

    I'm looking forward to an update on soylent orange/blue come Monday.

  • http://trading-to-win.blogspot.com/ DavidDT

    I can assure you that either one will happen

  • raised_by_wolves

    Ever used a huff and puff apparatus?

  • http://retracementlevels.zstock7.com/ zstock

    Hi Mole!
    There's a 65% chance SPY will see a lower low on Tuesday, which doesn't make any sense, because usually the market is up on ” The first day of the month”, unless there's a commodity sector Crash–which happens a lot on the “first day of the month” in which case, the commodity sector, will lead the rest of the market down, on the first!
    Stay BEAR!

  • https://evilspeculator.com molecool

    LOL – no worries – I will post another chart this weekend. Now, I'm going to relax a little. I just posted on the Slope actually – my first one, whenever Tim decided to publish it.

  • http://trading-to-win.blogspot.com/ DavidDT
  • Gerbil_gold

    thanks!!!

    not sure if the previous post covered this item – Rule 48.
    (sorry if repost)
    looks like the PPT was a little nervous this AM.
    http://www.nyse.com/equities/nyseequities/Today

  • http://trading-to-win.blogspot.com/ DavidDT

    I'd LOVE to read your post at Slope, but I don't like when someone constantly tells me that his … is bigger than mine (account)

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    nopes

  • https://evilspeculator.com molecool

    It's not up yet – either T.K. is still on the plane or he's busy removing all the curse words – LOL 🙂

  • https://evilspeculator.com molecool

    Wish there was a rule 48 for us bears – let's face it we don't have any help out there. The bulltards get all the breaks.

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    golden rule, those who sold the gold and get suckers to take a paper make the rules

  • http://www.bigmovingstock.com bigmovingstock

    My guess, market is toast come next week

  • rangefinder
  • Scoops

    Oh great. More guest posters 😉

  • http://bullorbearwhocares.blogspot.com/ jamesmarkii
  • http://trading-to-win.blogspot.com/ DavidDT

    there is one thngy on your charty I love to see

    1113(.69)
    http://trading-to-win.blogspot.com/2009/09/d-wa

  • http://bullorbearwhocares.blogspot.com/ jamesmarkii

    🙂
    the rounded top is just taking a couple days longer to round down.
    the late oct-early nov rounded top correction was 9 trading days
    7 down 2 up days to completion.

  • http://bullorbearwhocares.blogspot.com/ jamesmarkii
  • http://trading-to-win.blogspot.com/ DavidDT

    just keep an eye on Dec7-9
    it might be intermediate bottom
    OK, off for weekend

  • http://bullorbearwhocares.blogspot.com/ jamesmarkii

    if the m9 holds true we are heading lower than 980

  • http://bullorbearwhocares.blogspot.com/ jamesmarkii

    m9 pattern is pretty strong as well.

  • goldpackers

    TURN THOSE MACHINES BACK ON……………………………………………

  • https://evilspeculator.com molecool

    LOL – I was thinking of the same line towards the close 🙂

  • http://bullorbearwhocares.blogspot.com/ jamesmarkii

    :0

  • tradejane

    >Rule 48

    I love it when they change the rules in midgame. It's not fun – especially if one gets caught in the middle of it like I have – but looking back one of the best signs of things to come was banning the shorts and halting SKF.

  • http://retracementlevels.zstock7.com/ zstock

    OXY shouldn't be above $76__but then, What do I know?
    Click here to see the OXY CHART

  • https://evilspeculator.com molecool

    I put up a post over on the Slope – nothing new really for you rats, but just FYI.

    Have a great weekend!

  • centerline

    Thanks. I'll hop over and check it out for the hell of it.

  • LuvvinIt

    David what is the methadology?

  • goldpackers

    Bearish count is that was a failed c wave up late Friday and headed down in a 3rd or C Monday(Favor C ~1070). Bull count is 5 waves up off Friday's low and we are in a B or 2 or completed B or 2 on the close. I wish I knew! Believe sellers will come out gladly above 1100 now with concern over the “house of cards' scenario.
    Until we get a couple of closes below 1060 spx, can't get uber bearish. Could be a 4th wave in this diagonal(started at 978) and still reach the vaunted 1121. M/T will tell.
    Still holding Faz and will add if rally Monday. Bought NEM calls on open Friday as hedge. Will dump if gold gaps up Monday. Will not sell FAZ till SPX trades 978 or I die!

    Dubai getting limited aid.

    Gann turn 12-1/2. 12-10/11

  • Tazman

    Hey Mole….I did enjoy your ISEE post….learned much…..as for CRE……when will you go deep? I have been playing SRS for 2 weeks with decent entries/exit….but just will not hold long @ this point.

    Nice post @ SOH…

  • clutchshorter

    Friday's market activity was frustrating and no different than these past few weeks. While major foreign indexes fell 3-6%, the US fell less than 2%. Bernake and company always find a way to push the markets back up. BUT don't give up bears, failure is not an option. Those that give up easily simply move on or blame others for their shortcomings. I use 'failure' as an opportunity to modify/change my approach. I don't assign blame nor drown myself in sorrow because things didn't work out. Yes, I get frustrated here and there but then I move on. Be objective and stay the course.

    And NO more upside before we go down. Stop giving bulls a chance to prop up the markets even more. Every small downturn, I see a comment posted about seeing more upside before we go down. It's been happening for the past few months. It just keeps rallying and rallying. Scale in shorts per your trading plan. If it goes against you, add more if circumstances and conditions warrant the need for it or close your position.

  • http://ethicalcheating.blogspot.com/ The_Grim_Reaper

    Major Low Cycles

    Should we assume this time is different?

    http://ethicalcheating.blogspot.com/2009/11/maj

  • http://bullorbearwhocares.blogspot.com/ jamesmarkii

    the 85th day lines up with my dec 2, short term bottom
    should be some accelerated selling monday to wed
    51 points to 1040 spx in 3 days
    23 monday 7 tues, 21 wed

  • http://bullorbearwhocares.blogspot.com/ jamesmarkii

    6% correction from 1113 is 1046 spx
    7% correction from 1113 is 1035 spx
    8% correction from 1113 is 1024 spx

  • VA_Voter

    I heard on the video for 11/28 at 45:00 on blog 'RebelTrader' that Bob Prechter of EWI called the top of the market and is now 200% short. Can anyone cofirm?

    What does this mean?

  • https://evilspeculator.com molecool

    ¤ø„¸¸„ø¤º°¨¤ø„¸¸„ø¤º°¨
    ¨°º¤ø„¸ N E W „ø¤º°¨
    ¸„ø¤º°¨ P O S T “°º¤ø„¸
    ¸„ø¤º°¨¤ø„¸¸„ø¤º°º¤ø„¸

  • https://evilspeculator.com molecool

    I can confirm that he's now 200% short. Also check out my latest post for more juicy charts.

  • Scoops

    Yes, he recommended moving into leveraged short positions with money you can afford to lose. Though if one agrees with Hulbert's ridiculous notion about the wide spread pessimism of this rally you might reconsider. One only has to look at the II readings to see the froth salivating from the public's mouths at the new bull market and inevitable Santa Clause rally that takes us to the moon.

  • http://bullorbearwhocares.blogspot.com/ jamesmarkii

    oops

  • http://bullorbearwhocares.blogspot.com/ jamesmarkii

    6% correction from 1113 is 1046 spx
    7% correction from 1113 is 1035 spx
    8% correction from 1113 is 1024 spx

  • VA_Voter

    I heard on the video for 11/28 at 45:00 on blog 'RebelTrader' that Bob Prechter of EWI called the top of the market and is now 200% short. Can anyone cofirm?

    What does this mean?

  • https://evilspeculator.com molecool

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  • https://evilspeculator.com molecool

    I can confirm that he's now 200% short. Also check out my latest post for more juicy charts.

  • Scoops

    Yes, he recommended moving into leveraged short positions with money you can afford to lose. Though if one agrees with Hulbert's ridiculous notion about the wide spread pessimism of this rally you might reconsider. One only has to look at the II readings to see the froth salivating from the public's mouths at the new bull market and inevitable Santa Clause rally that takes us to the moon.