OK, so we may be in B up now and could possibly run up to 828 or above. I thought I would look at SDS and EEV for some clues as to when to ADD to positions. I mentioned on ST today late the possibility of the run up to 828 and the fact that we had some more downside possible in the likes of SDS and BGZ. So I took a peek at a couple (actually all of them). Notes are on the charts, but EEV looks tasty with indicators clearly oversold and at the bottom on the E touch of a massive falling wedge. EEV is simple enough. SDS on the other hand looks more dangerous with that gap below, but A) SDS has had a clear breakout of a falling channel and B) there is a trend line SDS perfectly tested with the low on the 26th (lower black dashed line) that runs back thru lows on May and Sept of 08 and Jan 06 of this year. Well HELLO what have we found here but the bear market bottom line and we just tested it? Y'all know Im a bear. I like what I have found in the ending wedge on EEV and just having touched the bear market bottom line on SDS with the channel breakout and 2.1.C.2 almost upon us I may get my last final bear wish out of this market sooner than later. This may be the last chance to play this bounce till P3 brings us back. I'm not buying yet as futures are at the 823 level at this tiem, but I am in the store shopping, just have not checked out yet. Note: Shorting here is EXTREMELY dangerous. If we are in P2 this is a mini bull market (ROFLMAO)and you're shorting into it. That ain't so smart. Be very careful. I am salivating for 3.1.2 to take us up and make a bunch of $$. Might be best to wait for that move. Shorting here is for the brave (or insane) only. GL.
Hey - aren't you proud of me? I did not mention the shell game, conspiracy theory or rigged market once in this post!