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Wednesday, October 8, 2008
DUDE, WHERE'S MY RALLY?
This market is so oversold that many technical, sentiment, and breadth indicators are way off the charts. A rally is overdue and should come. It will be quick and it may catch you off guard. I actually expect a V-shaped spiked rally to occur close to the half way point from the start of the decline to when we hit "official" capitulation. I won't be surprised when we head back down. Anyone else have any ideas?
Don't forget to try out the Free Trend Analysis. It's FREE, so give it a shot!
Don't forget to try out the Free Trend Analysis. It's FREE, so give it a shot!
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16 comments:
Hi John,
Can you give some input on
RIMM. Long or short from here for short term bounce. Thanks
hmm most likely a short. If the rally holds at this level and does not exceed today's open, then it's most likely fine. A low risk entry is to enter tomorrow morning if there is a slight gap down. Typically, these patterns have difficulty if there is weakness at the open.
Thanks John. Do you think it is still OK to stay SHORT in this market or will be have a massive rally to 10000 because we are way oversold!
It's definitely coming, and it'll come quick. All shorts should have stops on them just in case. We are extremely oversold. Most shorts are 1-2 day holds, thats it.
Do you trade index like SSO and DDM. Do you think it is good buy now? long term?
I personally don't do etfs, not enough juice for me. I would say wait for that capitulation day or if you miss it, the day after. Don't worry, you're not going to miss it and you don't have to risk going long right at this moment.
Thanks bro!
Hello John,
Where do you think the DOW will go today? My guess 8,900!
its very, very possible.
I'm 100% short going in overnight. This market is soooo dead!
We going under 8900. GM will file BK very soon...
it's unfortunate. I wonder how much money people lost today? Another trillion?
ETF not enough Juice? They go up and down in wide margin these days.. OMG what do you trade that is more than ETF join u r crazy!! lol you are my hero.
Tradermarketinfo-
GE earning tomorrow. Market will tank to 8500 or lower and nobody want to hold to this market over week-end
May be we are in will to 8500 today... let's watch... GS will be under 100...
market will have short term bottom today maybe...
i think capitulation comes tomorrow morning. I am hoping for a 400-500 point gap down when I can cover
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