- So, yesterday the bears had their way in a good sized late day sell-off. But today, this kitty comes along and scared Da Bear...and there was a good sized late day rally that recaptured most of yesterday's sell-off.
- Chopping up and down at a high level similar to the other tops on the daily chart over the past few months....multi-day flat with little ups and downs. Tops are hard because they take time...is this a short term top or do we punch higher towards the SP500 1108-1120 area first? Tough to say...really noone knows. Certainly is frustrating. The bulls have been conditioned over the past half year to buy any and all dips...at some point that will fail. When remains the unanswered question.
- The hypothetical SH position was stopped in on a buy yesterday at 54.8 and at today's close is underwater at 54.2, stop at 53.7. Wouldn't be surprised to see a stopout...but it's a hypothetical so let's let the stop do what it is there for, if necessary.
- When will Da Bears grow a pair like this little guy?
Nice blog, love the pictures!!
ReplyDeleteThanks...sorry, just noticed that someone had made a comment. Don't often see those. Mostly, I post to present simple thoughts for some longer term investors (family and friends). The pictures are to get their attention. Funny...I just stumbled across your blog a few days ago as well. Appreciate your Elliott Wave slant. I'm no good at it exotic counts...just try to use it when it makes sense. Good work and good luck!
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