Well, we'll know the answer next week won't we. I'll take a consolation prize if it passes thru on the way back to 1500.
Tuesday June 30th - "I have kept my fall to 850 and then up scenario in tact, yet I have upped my P2 top by roughly 100 points (ouch) from 1021 to 1121ish."
And that chart today I am still screaming about wanting a pullback to reset the lower trendline.
"They may need one more month to get the quarterly statements right. I'm sticking with my 1050 to 1121 top in October (12th to be exact)." From the Wednesday, August 26, 2009 post OOOOH She's Getting Toppy (Or Is She?) And Some News
So if it does top on the 12th I fully expect showers of adoration and an appearance on CNBS. I don't know of anyone that has been more precise on the net. If you do let me know. I have stared down all of my permabear buddies, taken out at least two P2 top calls from several other notable chartists and dusted EWI once(twice IMO), yet this little fledgling blog struggles along.
If you like the blog please share the link. No reason to be greedy. There is enough of me to go around. If you have not signed up to be a follower please do so. Thanks to all of you that follow and read on a regular basis.
NOTE: I am in the process of considering even more upside. I may finally get the pullback to reset the lower wedge line allowing for more room and time to run. The manipulators might not be thru yet. THE FORM OF THE FALL will be the most important thing so pay attention.
10 points, come on baby. All I need is 10 stinking points (8.67 to be exact). I also have a preliminary 875 fall target at this time (noted in the first chart).
OK, nut cuttin time as I like to say. Have a great weekend.
Maximum frustration for you then would be a stall-out at 1079? Let me just inform GS.. :)ReplyDelete
Ok Shanky, you have a fan now! A entertaining informative post for this perma bear and I needed this! Lol, I also watch Sharma Mahendra who said he was 100000000000000 percent sure the 12th of October would be significant. Good post and I will now check daily, thanks!ReplyDelete
All in man. All in.ReplyDelete
I hope Oct 12 2009 becomes a day that will be written on all new editions of econ textbooks.
U da man. I take back everything I never said about you. The June post is erie...this looks "right". I'm setting up some lawnchairs to take in the carnage next week.ReplyDelete
Shanky...what do you mean "if it passes through on the way to 1500"? Thanks...FerrisReplyDelete
Morla - Absolutely, but I have come close enough.ReplyDelete
Ferris - The whole market is a joke and the possibility for further upside is very possible. 1500 was a ficticious number mocking the Fed and their BS manipulative powers.
The top may be in, it may be set this week and it may be set next year. None of us know for sure. We all know it is a bunch of BS and when the curtain is pulled back to show the truth, its gonna get ugly real fast.
Look, based on TA and some common sense I looked at the trends and indicators and came up with a period for this to play out. I hope I am right. If not, we continue to grind and work to get it right.
What scares me is the fact that the weeklys can run some more and the monthlys look like they are in full blown bull mode.
Luv the Blog Shanky!ReplyDelete
This dude is calling for a CRASH:
I said this on Kenny's blog, but.. I don't think it will get real ugly right away.. I expect a rerun of last year.. A slow grind down to make the dip buyers happy and the bears to take profits, THEN it gets real ugly.ReplyDelete
LOL see my first post, you can thank me later!ReplyDelete
M - The weekly bearish engulfing on the VIX is not a good sign for the bears.ReplyDelete