Tuesday, July 6, 2010

Double Post the Ellipse

The more I look at this, the more I am convinced this is extremely bearish.   The massive stop sweeping doji after the holiday weekend, after a 4% move on the holiday futures.  

This is extremely bearish.  I have been "playing" with about 10% total net worth, in trading accounts.   It is time to ramp this up and put all money "to work".


  1. Weeeellll...

    Not sure how bearish it is near term, especially with QE v2.0 in the works (or at least the attempt at passing it).

    Still thinking we bounce until August and *poom*.

  2. Mr Narby, your opinion is always very welcome and respected, however, I have to call it the way I see it, and that is down and now. I may be wrong.

  3. Glad I didn't deploy more money, yet! The Ellipse does seem to be holding, better than the BP oil containment. See new post.

  4. Yeah, being a contrarian to the Hun is not a healthy activity. If he did what he said though, he would have stopped out at 1010, unless he reentered the long.


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