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Can't argue with that. Good one J!
Thanks. I just noticed something that looks not so bear friendly though. If you combine the 23rd and the 25th into a single candle, we had a bullish island reversal with a big gap down followed by a big gap up. I wouldn't be too surprised to see the santa rally to the moon commence sooner than later.
Thanks for the commentary.Hope we can realize a profit on the short trade prior to the santa rally!
Hmm - my preliminary guess is that we're in for a pause tomorrow as Mr. Market catches his breath after some nice gains. I'll have my final guess ready late tonight as usual.
No longer folks.Market heading down after most of our major banks have been downgraded...Wish I would have sold at a loss and gone long... crap
oops, I meant short (or long TZA):D
WOW ! ! ! What a difference a day (or overnight) makes. Best of luck to everyone.
J, what is your system saying today?Weird things are happening...
This is news driven market.. No system can predict what someone or organization will do ahead of time. Timing models involve key numbers, not key news. But in defense I am staying short TNA but wish I could have gotten short today instead of yesterday obviously. Last time there was a global central bank intervention, Sep.15, market went up for two days and fell hard for the next 5 days. So that historical note plus two large gaps in the market twice in 3 days means i see massive downside to come.
Also very small short interest in the overall market at the moment compared to October and September. Perfect time for the MM's to pull the rug. People will buy big here thinking world is saved and then boom. Down she goes..
Getting another short signal today, but that shouldn't be surprising with a 40 pt pop in an unhealthy market. Tomorrow could flip the system back to healthy mode, which would stop out half the short position. More later!!! Happy trading.