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Post by theMist on Feb 10, 2017 15:47:32 GMT -5
Usual final hour pop in scams
ttyl
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Post by theMist on Feb 10, 2017 16:04:09 GMT -5
That ain't workin' that's the way you do it
Money for nothin' and chicks for free!!
Mulah! Mulah!!!
I want my...I want my... I want my short TVIX!!
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Post by walnut on Feb 10, 2017 20:06:31 GMT -5
Nice day!
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Post by theMist on Feb 12, 2017 9:20:21 GMT -5
In light of Prime Minister Abe's visit to U.S. - this song from my favorite band Rush comes to mind. Thankfully, the horrors of World War are far behind us and Japan is now one of our greatest allies.
"Manhattan Project" Imagine a time when it all began In the dying days of a war A weapon that would settle the score Whoever found it first would be sure to do their worst They always had before...
Imagine a man where it all began A scientist pacing the floor In each nation, always eager to explore To build the best big stick To turn the winning trick But this was something more...
[Chorus:]
The big bang took and shook the world Shot down the rising sun The end was begun and it hit everyone When the chain reaction was done The big shots tried to hold it back Fools tried to wish it away The hopeful depend on a world without end Whatever the hopeless may say
Imagine a place where it all began Gathered from across the land To work in the secrecy of the desert sand All of the brightest boys To play with the biggest toys More than they bargained for...
[Chorus]
Imagine a man when it all began The pilot of 'Enola Gay' Flying out of the shockwave on that August day All the powers that be, and the course of history Would be changed forevermore...
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Post by walnut on Feb 12, 2017 9:52:42 GMT -5
Bulkowski says the SP500 is in a rising wedge and should turn down at some point soon. But I think that in the short term it is in a breakout ascending triangle. The rising wedge is still there and could be a bearish problem in the future.
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Post by theMist on Feb 12, 2017 10:20:55 GMT -5
Bulkowski says the SP500 is in a rising wedge and should turn down at some point soon. But I think that in the short term it is in a breakout ascending triangle. The rising wedge is still there and could be a bearish problem in the future. Do you have link? Will checkout later after church.
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Post by walnut on Feb 12, 2017 10:57:04 GMT -5
thepatternsite.com/Blog.htmlBut what I am seeing is both the rising wedge but more immediately is the bullish ascending triangle breakout. Bulkowski says the SP500 is in a rising wedge and should turn down at some point soon. But I think that in the short term it is in a breakout ascending triangle. The rising wedge is still there and could be a bearish problem in the future. Do you have link? Will checkout later after church.
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Post by theMist on Feb 12, 2017 19:32:08 GMT -5
I respect Bulkowski and I have learned a lot from going through his site and learned a lot about all the different chart and candle stick patterns. I still use his site as a reference today, especially when it comes to candlestick patterns -- there are so many...
However, one thing to point out -- when it comes to measuring targets, he is simply using math and that works great if using arithmetic scale. But we are using Log Scale which is far more appropriate. IMO. In theory, I do not like arithmetic charts. On an arithmetic chart, percent gains are distorted as you move up the chart. I think people base their decisions to buy and sell more on PERCENT gains rather than on ‘dollar’ gains. For example, if a 1.00 stock goes up a buck it will make a vertical move that is the same as a 1000.00 stock moving up to 1001.00. The first is a 100% move while the latter is 1/10 of 1%. A log chart will show the proper relationship of those two gains, making the 1 to 2 move very impressive and the 1000 to 1001 gain hardly noticeable.
Anyway, his blog is speaking about the Nasdaq, which really has no effect on what we trade. I know the majority of the time, DOW, S&P, NAS, trade together in unison BUT for shorting the VIX SCAMs, we are ONLY concerned about S&P direction.
ASSUMING WE DON'T GET AN OVERNIGHT/WEEKEND BLACK SWAN, the pullbacks I see are nothing more than normal pullbacks, normal selling, consolidation, backtest, type of stuff.
S&P should backtest the old SP2300 HIGH and the Ascending Triangle break at some point. So, for this week, I would expect a little pullback in S&P BUT if S&P doesn't and market keeps screaming higher then that would be cause for concern. IMO
We still have that ascending triangle breakout that measures SP 2333ish and of course the large INVERSE H&S Pattern that measures around S&P 2460ish.
Just a question of how we get there.
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Post by theMist on Feb 12, 2017 19:51:56 GMT -5
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Post by walnut on Feb 12, 2017 22:31:19 GMT -5
VIX futures down almost 1% right now, hope that continues that way tomorrow
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Post by theMist on Feb 12, 2017 23:42:40 GMT -5
VIX futures down almost 1% right now, hope that continues that way tomorrow I expect VXX to test that lower support line like I mentioned on Friday. Scams should gap down (opening gap) tomorrow
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