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xoiper Nov 20, 2008 7:29pm | Post# 140081

That angle is the bottom where ever it may be touched

doesnt look finished to me
i closed all my shorts because the retrace from here would be big may be 143
and i was hav shorts from 146

malcolmb14 Nov 20, 2008 7:32pm | Post# 140082

lol
 
any rally here will need a special reason, so for all purposes i am still short

no reason required ....

4 hr indicators are very oversold .... this thing could get back to 145 , depending on how options expiry Friday goes tomorrow.

markam Nov 20, 2008 7:33pm | Post# 140083

1 Attachment(s)
we are officially in the biggest bear market since the great depression (graph from calculated risk blog).

Click to Enlarge

Name: four-bears-large.gif
Size: 48 KB

malcolmb14 Nov 20, 2008 7:37pm | Post# 140084

interesting
 
we are officially in the biggest bear market since the great depression (graph from calculated risk blog).

Attachment 172713

option 1) more tankage
option 2) bottom is close and major rally

lilmoe Nov 20, 2008 7:39pm | Post# 140085

I was thrwoing fib time extensions on charts on the weekend ... nov 25th came up on a bunch . i thought market rally till then and drop ... bvut now i think market drop till then and then rally .. ties in with bail out meeting also now
makes sense to me now. i was thinking the same thing. i heard about the same date from other people i know and online.

to be honest, i never expected things to go down this fast, i was expecting a large rally before YM tested that area.

i believe 7200 (give or take a couple hundred pips) SHOULD hold and we should see a major change of trend on YM going back 11000 region forming a right shoulder on the monthly chart , and start a slow and VERY sloppy move down to fully form a monthly head and shoulders pattern that will eventually reach 3500 in the next 4-5 years... sounds crazy doesn't it?

the carries are no good anymore, interest is not paid, at least not for GJ... this should have a large impact UNLESS we see some serious bank and gov. intervention.

forexlion Nov 20, 2008 7:40pm | Post# 140086

no reason required ....

4 hr indicators are very oversold .... this thing could get back to 145 , depending on how options expiry Friday goes tomorrow.
ok i get it now

markam Nov 20, 2008 7:41pm | Post# 140087

option 1) more tankage
option 2) bottom is close and major rally
The only way we are going up is if the government starts printing to cover its debts. The market might rise, but you will be losing money the whole way up.

Rest assured, the government will be printing in the next few months. Global monetary collapse will be here before the end of next year.

lilmoe Nov 20, 2008 7:41pm | Post# 140088

we are officially in the biggest bear market since the great depression (graph from calculated risk blog).

Attachment 172713
so what do u think bro? any temporary mid-term relief in the horizon? lol

malcolmb14 Nov 20, 2008 7:41pm | Post# 140089

lol
 
makes sense to me now. i was thinking the same thing. i heard about the same date from other people i know and online.

to be honest, i never expected things to go down this fast, i was expecting a large rally before YM tested that area.

i believe 7200 (give or take a couple hundred pips) SHOULD hold and we should see a major change of trend on YM going back 11000 region forming a right shoulder on the monthly chart , and start a slow and VERY sloppy move down to fully form a monthly head and shoulders pattern that will eventually reach 3500...

no I was just tlaking to guys in office and have a rough estimate of 3500 for dj in next 5 years. They aksed me if things were going to get worse. I suggested selling any stocks they had , buy bottled water , canned food and guns ...lol

OrionsWay Nov 20, 2008 7:42pm | Post# 140090

i closed all my shorts because the retrace from here would be big may be 143
and i was hav shorts from 146
just be sure to place a breakdown order of the penant forming 15m sl 1 2 bars back from breakout and u can instantly move to be

markam Nov 20, 2008 7:43pm | Post# 140091

1 Attachment(s)
The only way we are going up is if the government starts printing to cover its debts. The market might rise, but you will be losing money the whole way up.

Rest assured, the government will be printing in the next few months. Global monetary collapse will be here before the end of next year.
Here is what the stock market will do when we go full-out printing.

Name:  ZimbabweIndustrialIndex.jpg
Views: 384
Size:  19 KB

lilmoe Nov 20, 2008 7:43pm | Post# 140092

1 Attachment(s)
here's a chart i posted a while ago about what i think will happen to the dow


Click to Enlarge

Name: dj_monthly_h_sh.gif
Size: 20 KB

markam Nov 20, 2008 7:44pm | Post# 140093

so what do u think bro? any temporary mid-term relief in the horizon? lol
I thought we would get a bear market rally after last thursday. Now, I don't know.

Raza Nov 20, 2008 7:45pm | Post# 140094

no reason required ....

4 hr indicators are very oversold .... this thing could get back to 145 , depending on how options expiry Friday goes tomorrow.
Agreed with your 144.75ish..Based on fall from165xx.. 23% is 144.55... ( can retrace further.. Gj has a bad habit of retracing 100%) Too early to say .. kinda forming H/S onsmaller and Bigger TFs. Inverted ones are not really reliable though.. I guess we will know by tomorrow..

OrionsWay Nov 20, 2008 7:46pm | Post# 140095

Here is what the stock market will do when we go full-out printing.

Attachment 172716

I have dec mid to late 09 for bottom in most markets based on timing methods

lilmoe Nov 20, 2008 7:46pm | Post# 140096

no I was just tlaking to guys in office and have a rough estimate of 3500 for dj in next 5 years. They aksed me if things were going to get worse. I suggested selling any stocks they had , buy bottled water , canned food and guns ...lol
loooool, some people thought i was crazy to say 3500 and lower, i guess markam was the only one who agreed.

but this won't happen in a day and night, it will take at least 4-5 years, and it seems u're expecting the sames

lilmoe Nov 20, 2008 7:51pm | Post# 140097

I thought we would get a bear market rally after last thursday. Now, I don't know.
yea, things are happening way too fast. gets confusing after a while.

xoiper Nov 20, 2008 7:51pm | Post# 140098

here's a chart i posted a while ago about what i think will happen to the dow
i ll be happy to buy stock shares at that bottom

Eulogy Nov 20, 2008 7:52pm | Post# 140099

no I was just tlaking to guys in office and have a rough estimate of 3500 for dj in next 5 years. They aksed me if things were going to get worse. I suggested selling any stocks they had , buy bottled water , canned food and guns ...lol
Malcolm are you OFB on Oanda forums by any chance? You certainly sound like him especially about the supplies, guns and ammo.

OrionsWay Nov 20, 2008 7:56pm | Post# 140100

wave 5 of 3 is being completed atm imo DJIA


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