Who the fuck knew things were so damn rosy out there? I mean looking at these three you would think that any hint of a recession or unemployment or the plethora of other issues that exist don't exist. This is the most screwed up shit I have ever seen. Notes are in the charts. The skid marks - I mean gaps are the brown sharts across the screen. All support resistance lines are with historical points included. These wedges were so easy to draw even prophit got one of them right in TOS.
EEV - Has fallen 91.75% from its 196 top. So things are so good in emerging markets that this has happened. WTF is gonna happen to EEV when things really do recover in 10 years? Previous all time low was 58.12.
SDS - Has fallen - get this -
61.8% off of the top. 40.38 is all time low.
QID - Has fallen 61.8 points from the top (not a fib number, but kind of cool in relation to that number). Anything below 28.46 is setting all time new lows.
This government is at war with the people. It THINKS if it holds the market up it will get its way. Win or lose on healthcare, this mkt collapses when the issue is done if not much sooneer.
ReplyDeleteSteve
Market will collapse when GS has no one left to trade against or GS has all the chips.
ReplyDeleteGS is just gonna play it the same the other direction. Will we complain then?
ReplyDeleteWell, not for the first several hundred points. If it gets out of hand as expected, we all might be careful for what we're wishing for.
ReplyDeleteMy neighbor goes to the junk yard buys a wreck for $250, has it registered and delivers it to a BMW dealer and gets $4500 tax payer money for a down payment on a brand new BMW made in Germany. He is from India, in the US on a work visa. Stuff makes me wonder?
ReplyDeleteShanky:
ReplyDeleteConsidering double short etfs have volatility decay and get their value purely from other underlying indices, is technical analysis on them really at all worth a flip? Seems like you can do technical analysis only on the underlying indices. Go Dawgs.
Herschel Talker
Walker my dawg - you are 100% correctamundo! i'll use these charts in conjunction with the indexes they follow. never as stand alone. the gaps and some retracements here will have meaning when the turns do happen esp on the intraday moves as specific targets. when these things get some momo and begin to run, then you can look into these charts for some guidance, but the indexes trump all.
ReplyDeletehope them puppies have a great year. looking for 9 wins and a bowl to make 10, but that may be asking a bit much i'll take 1 ans 9 if we can beat those shit ass gators.
added some dawg action to the blog - hope you like it.
ReplyDelete