Friday, October 22, 2010

Call a top? Why Not

Certainly they could run the market up into elections, but then again, maybe this is the top.  

I predicted a double pump aginst the bears and so far that has played out, and if done it played out today.

Now that nary a bear in the world has got the guts to short this beast.....perfect time for "bad news" over the weekend.   Just saying, hanging on to QID and QQQQ puts over the weekend, for sure.

Working a bunch, just sold some large projects, so just maybe can chime in Sunday.

Others---feel free to post up some charts in the comment section.    I'll transfer them to a new post when I can.



  1. I like the way you think!

    BTW, I was on the CA coast last weekend. I waved at you but you didn't wave back......

    It's because I haven't signed-up as a follower, isn't it?

  2. Yes, it is that, plus my eyesight is not as good as the 'eagle eye" I used to have.

  3. Hi steveo, Thought I would step out to some 3 day charts for a better look at the trend. Did I see Uncle Buck stutter last week?

  4. Great chart Rhae,

    I often see when a trend change starts, it moves to the change, reverses (to the original direction) to shake out the weak hand believers, and then makes its move. However, this market is now manipulated more than ever, and so they run up to 78 Fibo's and do the shakeout twice.

  5. This concurs, and also backs my thesis that gold will pull back to $1264.00, then it's off to infinity, and beyond.

  6. Snow forecast on Wednesday here.......oh yeah......

  7. snow!?!??!!!?? I'm glad I'm a southerner down here in NYC.....gonna be in the 70s this week.

    speaking of manipulation, I was walking down in the financial district and I think I saw Jesse Livermore lurking around the NYSE...sure looked like him....

  8. Playing with cycles is an inexact science, to be sure, but a lot of the pink lines here have pretty much coincided with--up til now--bottoms. The next one looks like it's going to mark a high, and it's coming really darn soon if it isn't here already.


Insightful and Useful Comment!