You are looking at the charts all wrong–because you don’t know what you’re doing. Neither do I. Actually, do any of us really know anything at all? I’m a better dart thrower than most, plain and simple. But at the end of the day, I will get my comeuppance. We all do. Maybe it’s beginning now, or next year, or in ten years. Rest assured, it will happen, as long as I am invested the way I am in stocks.
If I dialed it down and put myself out to pasture in old man stocks, I’d be fine. I’d retain the wealth I’ve accumulated and be able to sustain my way of life. That’s the word I don’t like: sustain. I don’t want to sustain anything. If I am not moving up, I’d rather not be moving at all–a dreadful fatalistic way of thinking, especially for a family man. We can’t change who we are. We can only pretend until the truth is revealed, one way or another.
Today’s action was constructive, but not exactly what I had in mind. The charts look bad, even horrid, because stocks are going straight down the toilet. They will look better once we bounce and base out. Then you’ll say “here is the support line, where bounced on March 28th of 2014.”
It’s coming, soon. Don’t wait for it.
Keep an eye on N.
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I bought YELP, here’s to losing some more money!
Set up for bounce tomorrow. Gawd has spoken.
Similar action to the 06 correction. Then it was copper and oil sands getting smoked. Did they recover? Yes. And then went way the fuck higher.
MAX KEISER BOMBSHELL! INSIDER TRADING KNOWN BY CIA ON 9/11/01!!!
During the lows on Jan you predicted a recovery rally in Feb and mega top then decline on Mar. That proved to be accurate.
“We can’t change who we are. We can only pretend until the truth is revealed.”
Truth.
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… how do I “keep an eye on N” … if I “throw my charts away” ???
😉
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… or, more accurately … “my eye” !
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I am looking forward to a 20% market haircut….its coming. I will seek to profit 5% on that 20% decline, and then buy deeply around that mark.
Here’s how you know its serious…the major market averages are being held up while folks sneak out the backdoor on all the high-beta names. Soon, the major averages will be under constant pressure, but the expected decline won’t come when expected. It will be up, down, up, down, up, DOWN DOWN DOWN, up….you get it.
You could see it today, support breaks…but oH NO NO…not goiing down today. But maybe next week! Or the week after!
But you know what? We are done going higher in any case.
If they were just “flushing out the bulls” it would be fast and vicious and over in a week. That ain’t happenin’ here.
They’re sneakin’ out the back, son.
everyone shut up
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…watching the above video in this post pushed me dangerously close to a photosensitive epileptic seizure !
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Hope this is a sign that Central Bank Coke is gone.
Do you really believe that? With Japan as the ultimate clown. What do the other players have to fear? As of now.
Gossip over in Japan is BoJ will wait for May Figures before they decide that the Sales Tax is killing them. Interesting that America Press is expecting action at next April Meeting.
Market will go down until morale improves.
“I feel sorry for the man who, after reading the daily newspaper, goes to bed believing he knows something of what’s going on in the world.” – H.L. Mencken
A week ago, everyone here including Fly was bullish as hell. “Gimmee dem mo-mo stocks”.
I posted “Why does the market have to go UP from here?”
Now you all are a bunch of bearshitters. With banks, biotech, cloud companies and (then) overpriced high flyers like GOOG, NFLIX, C, CELG, FEYE having taken 5% to 20% haircuts over the past week, why be bearshitters today?
“Cuz we are bullish at the top and bearish after a selloff”.
I thought the patrons of this site were better than that.