Saturday, July 11, 2015

Staying long!

Quote of the week- “Sometimes, when it’s too obvious, it’s obviously wrong.”

I like that and have stayed long looking for 2100 Spx some time this week 15th or 16th
would suit me. I had this week picked out weeks ago as a high but let us see what it takes to get over bought. This is opex expiry week and a good place for a high.
Next after this week we will be looking out for the start of a decline and I think they could be much faster than we are used too.
Jon Murphy had a letter out this week with his Elliot Wave count, basically looking for a wave 4 pull back and then wave 5 higher.
My Advance GeT has us in a finished wave 5 and now in ABC corrections.

This is important: We are at the 125 sma line. I don’t think it will be resistance but if it is, back on Oct 15th 2014 we dropped 6.56%  and if we do it again then the target would be Spx 1950.
If 2040 falls then I had 1970-80 so 1950  would be in range. I don’t expect that to happen yet.
Jerry      Timingshortterm @ yahoo groups
Not investment advice……………………………………………………………………..!

Thursday, July 9, 2015

Mother of a short Sqeeze starts July 9th

I said yesterday if we had an inside day we will rally.
Sure enough we had  the inside day, out of many things the market could have done! That is the Wall Street code to rally.
It's all fixed, to screw the little guy, but the little guy can play too. To be clear I'm not saying every inside day is a buy only the special ones
I look for the mother of a short Squeeze to start Thursday and go until the 15th or 16th of next week.
Not trading advise. Do you own work and figure it out.
Fun and games on the internet.     :)

Wednesday, July 8, 2015

Weird Day

I was hopping to see Spx 2098.63 by Wed but we may need to wait till next week.
Maybe I should be bearish but I'm not.
Why, well why aren't we down big time It looks like a market not ready to go down.
Sure future's are down big time again tonight @ 12:30 pm ET. China crashing and Asia weak.
My problem is on the 6-30 double bottom low we had  heavy volume. Today point for point we had light volume moving us up from the low.
We are in a C wave, but where can you find a C wave that was also an outside day reversal?
Where is a C wave confirmed by 5 waves down.
Conclusion if Wed is flat and an inside day that will be bullish, or else we crash since this C can be a crash wave.
I remain long but with little confidence.