5 years ago
Wednesday, September 22, 2010
Last post for the trading day
based on 3C, unless we get something pre-market that changes the situation, I'm looking for early strength in the market tomorrow, again, this is not a revision to longer term or strategic views, just an observation on short term intraday action
7 comments:
Brandt,
I think the US Dollar is the key in all of this. This should be one of the focusses in my opinion.
Thanks for all the great work you do!
Alesund
I think the main thing we need to know is when is this reversal going to happen. Is it happening now? Is this definitely the top? We haven't really had any substantial down days and even futures that are down sizeably like they were last night (DOW down 50 points) soon get 'magically' brought back to even. There is just so much intervention in this market.
When is 3C's month long calls of gold, silver, equities going down and $dollar going up, actually going to happen? Because they have all done the opposite (and strongly!). Just to get back to the points where 3C starting showing accumulation/distribution requires one hell of a reversal from here.
There are only 6 more days of trading this month (and i thought that September was suppose to be a bad month for stocks!)
What do we need to see to know that we are in the reversal?
Tops are a process and do not typically happen on a dime or one day down move.
Mr. Pink,
As Brandt has explained, it takes time for the big players to accumulate, distribute, and take up short positions. One cannot trade on 3C alone. What 3C shows is a future move or trend. Timing is something that requires multiple indicators and techniques.
One thing seems clear to me: a big move is coming and the big money has been positioning for this for a while now.
Quality Stocks,
Yes, i'm well aware of that. That's why i asked what signs are we looking for for confirmation that we have reversed. What do we need to see happen exactly?
Also, i'm more concerned that 3C has seemingly called equities, precious metals and the U.S. dollar so very wrong. I need to see reality realigned 3C's predictions and soon for confidence and credibility. There's no point in 3C telling me that equities are going down if they go up for 6 months before doing so.
Negative divergences in 3C and most indicators for that matter take time to develop. Picking a entry point is what matters. If you picked a entry point two days after the upmove started then it has been a rough ride for sure.
Quality Stocks,
Well, 3C was showing strong negative divergences from day 1 of the 'bounce', so i certainly didn't expect the DOW to go up 800+ points and SPY 100+... but here we are 3 weeks later and that's where we are.
It keeps getting said that the powers that be need to take the market higher to trap 'longs' in to act as 'fuel' for the move down. Well, surely a 800+ point move on DOW has trapped enough 'longs' and given the powers that be plenty of time to distribute in to the 'bounce' over 3 weeks.
There needs to be a reasonable amount of time between 3C showing 'signs' of what is going to happen and when it actually happened... otherwise it's like saying 'its going to rain', but not saying when.
This 3 week+ seems more than a reasonable amount of time to me. Especially when we've had so many 'confirmation' signs and pieces of the puzzle shown.
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