My prediction from February 9th about a bounce to 2740 and a subsequent resumption of the weakness has, thus far, earned me a solid A+ (my trading based upon it I’d give, oh, a D+, but that’s another tale………suffice it to say I got incredibly short as of last Friday at the close).
But how shall I put my view as to what’s coming? Let’s see – – – Catastrophic? Horrific? Deliciously devastating?
I know the BTFD crowd has had the habit of buying pounded into their tiny little craniums. That’s just the sort of blinkered, philistine pig-ignorance one should expect from such non-creative garbage, sitting on their loathsome spotty behinds, squeezing blackheads, not caring a tinker’s cuss about the struggling chartist. (more…)
Thank you, Dennis. THANK YOU THANK YOU THANK YOU! Although I foolishly didn’t go totally flat on February 9th when you turned uber-bearish, I did short like the dickens today when you hit your pre-announced stop-loss point. You’re the King!
Today is a quiet one for me; the main thing on my mind is hoping Gartman gets stopped out of his “one unit” short in order to clear the way. So I’ll just mention Verifone as an interesting chart on the short side, since it’s slowly breaking down a massive topping pattern.
Elizabeth Swaney, who hails from Palo Alto, is getting some unintended publicity for being pretty much the lamest Winter Olympian ever. Her participation in the Olympics at the half pipe is seriously the one and only one I could personally match. Enjoy the leisurely run!